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Whales have accumulated over 40 million $ADA tokens from exchanges in the past 48 hours.
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$ADA could soar by 25% to reach the $1.32 level if it holds $1 mark.
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$ADA has witnessed an impressive 16% upside momentum after 40 Million of accumulation.
$ADA, the native token of the Cardano blockchain, has been making waves amid the ongoing market recovery following a significant price decline in December 2024. This market recovery has gained massive attention from crypto enthusiasts, resulting in significant accumulation of $ADA tokens.
$ADA Whales Accumulate 40M Tokens
Recently, a prominent crypto expert posted on X (formerly Twitter) that whales have accumulated over 40 million $ADA tokens from exchanges in the past 48 hours. This substantial accumulation indicates that whales began accumulating after the altcoin breached the trendline and broke out from a consolidation zone on the daily timeframe.
Whales bought over 40 million #Cardano $ADA in the last 48 hours! pic.twitter.com/YMc1dxQzjd
— Ali (@ali_charts) January 4, 2025
The expert’s report reveals how whales are accumulating $ADA and highlights an ideal buying opportunity for retail investors. It has also been observed that the asset witnessed an impressive 16% upside momentum following this purchase.
Why $ADA Appears Struggling?
The notable upside momentum, coupled with current rumors about a healthcare crisis in China, might be the reason behind today’s price decline and ongoing correction.
Current Price Momentum
Currently, $ADA is trading near $1.07 and has experienced a price decline of over 2.1% in the past 24 hours. During the same period, its trading volume has also been impacted, registering a drop of over 50%. This indicates lower participation and further reflects fear among traders and investors.
$ADA Technical Analysis and Upcoming Level
Despite all this activity at the international level, $ADA appears bullish and poised to continue its upward momentum. According to expert technical analysis, the altcoin has already surged by an impressive 32% in the past three days and currently seems to be correcting itself for further gains.
$ADA Price Prediction
However, there is also a possibility that the market may extend $ADA’s price correction for a few more days. Despite this, if the altcoin holds above the $1 mark, there is a strong chance it could soar by 25% to reach the $1.32 level in the coming days.
The market sentiment appears bullish as the inauguration of United States President-elect Donald Trump, scheduled for January 20, 2025, has the potential to create a significant impact on the asset’s price.