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CoinGape 2025-01-22 11:55:17

Will Cardano Price Skyrocket to $1.5 As Whales Buy 140M ADA?

Will Cardano Price Skyrocket to $1.5 As Whales Buy 140M ADA?

Cardano (ADA) price trends have been volatile recently, hovering just below the $1 mark. With a recent resurge in BTC, which rallied above $105k, igniting a broader cryptocurrency market rebound. This uptick has stirred optimism, especially as major investors accumulate an additional 140 Million of ADA. Could this be the spark that propels the ADA price to $1.5? Cardano Price Consolidates The Cardano price consolidates after failing to maintain support above the $1 critical level. ADA has struggled after rallying past the $1.15 resistance mark, dropping 4% over the past 7 days. However, the price rebounded slightly today as the broader crypto market showed signs of recovery. As of Wednesday, the ADA price is trading at $0.9804, with a slight surge of 1% in the past 24-hours. The leading crypto, Bitcoin, remains above $105K , but many coins are still struggling to regain lost ground. Market sentiment remains cautious following Monday’s inauguration of Donald Trump as the 47th president of the U.S., which has influenced financial markets. Traders are watching for further price action as ADA navigates key resistance and support levels in the coming days. Whales Accumulate 140M ADA Tokens The accumulation of 140 million ADA tokens by large holders between Dec. 15, 2024, and Jan. 22, 2025, signals growing confidence in Cardano. Whale activity often influences market trends, potentially driving prices higher. Increased holdings among major investors suggest a long-term bullish outlook, reinforcing strong demand for ADA in the evolving cryptocurrency landscape. Source: Santiment Network Activity Spikes The Cardano price network is witnessing a surge in daily active addresses, signaling increased investor engagement. Recent sentiment data shows the number of active addresses reaching 50,828, marking a new high. This uptick reflects heightened interest at current price levels, with investors interacting more with the blockchain, preparing for a potential rally. Source- X Can Cardano Price Hit $1.5? On the 4-hour chart, the Cardano price forms an inverse head-and-shoulders pattern. This pattern suggests a trend shift could happen when Cardano breaks out against the $1.15 resistance. The target could reach $1.50 if confirmed, representing a 27% gain. This notes strong support at $0.97, aligning with technical indicators favoring upward momentum. ADA investors watch for decisive moves. The RSI on the 4-hour chart is at 47, indicating a neutral market trend. Source- TradingView The Cardano price trend keeps increasing as big investors buy more tokens while network usage expands. A move beyond $1.15 will let the top altcoin surge towards $1.50 value expectations. Trading activity shows investors watching price resistance points and waiting for market clues to confirm stable growth. The post Will Cardano Price Skyrocket to $1.5 As Whales Buy 140M ADA? appeared first on CoinGape .

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