ADA Price Prediction for January 5, Whales Scoop 40M Tokens
ADA, the native token of the Cardano blockchain, is making waves as the market continues to recover following a significant price drop in December 2024. This market recovery has attracted widespread attention from cryptocurrency enthusiasts, leading to a massive accumulation of ADA tokens.
ADA whale accumulates 40 million tokens
Recently, a well-known cryptocurrency expert posted on X (formerly Twitter) that whales have accumulated more than 40 million ADA tokens from exchanges in the past 48 hours. This massive accumulation shows that whales started accumulating after the altcoin broke above the trendline and broke out of the consolidation zone on the daily time frame.
The expert’s report reveals how whales accumulated ADA and highlights ideal buying opportunities for retail investors. It was observed that the asset experienced an impressive 16% gain following this purchase.
Why is the ADA struggling?
Significant upward momentum, coupled with current rumors about a healthcare crisis in China, may be behind today’s price decline and ongoing correction.
Current Price Momentum
Currently, ADA is trading near $1.07, with the price down more than 2.1% in the past 24 hours. During the same period, its trading volume was also affected, falling by more than 50%. This indicates low participation and further reflects fear among traders and investors.
ADA Technical Analysis and Upcoming Levels
Despite these activities at the international level, ADA appears bullish and ready to continue its upward momentum. According to expert technical analysis, the altcoin has surged 32% in the past three days and currently appears to be correcting itself for further gains.
ADA Price Prediction
However, it is also possible that the market will extend the price adjustment of ADA for a few more days. Nonetheless, if the altcoin remains above the $1 mark, there is a high chance that it will surge by 25% to $1.32 levels in the coming days.
Market sentiment appears to be bullish as US President-elect Donald Trump is scheduled to take office on January 20, 2025, potentially having a significant impact on the market. asset price.
