Cardano (ADA) Price Prediction For January 13
The entire cryptocurrency market appears to be in disarray due to the massive price swings over the past few days. Crypto whales appear to be accumulating amid market uncertainty Cardano (ADA) According to a report from a well-known cryptocurrency expert on X (formerly Twitter).
Whale buys 90 million ADA tokens
In a post on X, an expert noted that whales purchased 90 million ADA tokens in the past 96 hours (equivalent to the past four days). This massive accumulation indicates an ideal buying opportunity and the potential for an upside rebound.
However, after an impressive gain of over 7% yesterday, ADA price appears to be in trouble and facing a decline.
Current Price Momentum
Currently, ADA is trading close to $0.968, with the price down by more than 2.85% in the past 24 hours. However, during the same period, investors and traders showed strong participation in the coin due to its recent breakout of a bullish price action pattern, resulting in a 27.5% increase in trading volume.
Cardano (ADA) Price Action and Upcoming Levels
Following the recent price decline, ADA price has reached a breakout level and it appears that the price has come to this level for a retest with the aim of further upward momentum. ADA remains bullish as long as the altcoin remains above the 200 exponential moving average (EMA) and $0.955 levels on the four-hour time frame.
ADA Price Prediction
Based on recent price action, ADA is very likely to surge 17.5% to reach the next resistance level at $1.135 in the coming days. On the positive side, ADA’s relative strength index (RSI) is neither in overbought nor oversold territory, indicating that the asset has plenty of room to achieve significant upward momentum.
This bullish price action pattern and recent whale activity indicate underlying upward momentum and an ideal buying opportunity.
