ADA Price Prediction for January 5th, Wellscap 40M Tokens
ADA, the native token of the Cardano blockchain, is making waves during the ongoing market recovery following a significant price drop in December 2024. This market recovery has received a lot of attention from crypto enthusiasts, which has led to massive accumulation of ADA tokens.
ADA whales collect 40M tokens
Recently, a prominent crypto expert posted on X (formerly Twitter) that whales have accumulated more than 40 million ADA tokens in the last 48 hours by exchanging them. This large accumulation indicates that whales have started gathering after the altcoin broke the trend line and broke out of the consolidation zone on the daily time frame.
The expert's report shows how the whales are accumulating ADA and presents a good buying opportunity for retail investors. After this purchase, the property has also seen an impressive 16% growth.
Why did the ADA appear to be struggling?
Coupled with rumors about China's health care crisis, the price collapse and continued correction could be the reason.
Current price momentum
Currently, ADA is trading around $1.07 and has experienced a price drop of over 2.1% in the last 24 hours. In the same period, the transaction volume has also been affected, it has recorded a decrease of more than 50%. This shows low participation and further reflects fear among traders and investors.
ADA technical analysis and future status
Despite all this activity on a global scale, the ADA seems bullish and poised to continue its upward momentum. According to expert technical analysis, the altcoin has increased by an impressive 32% in the last three days and currently seems to be correcting itself for further gains.
ADA price forecast
However, there is also a possibility that the market may extend the ADA price correction for a few days. Despite this, if the altcoin holds above the $1 mark, there is a strong possibility that it will rise by 25% to reach the level of $1.32 in the coming days.
The market sentiment seems bearish as the inauguration of US President-elect Donald Trump, which is scheduled to take place on January 20, 2025, has the potential to have a significant impact on asset prices.
