Cardano (ADA) price forecast for January 13
The entire cryptocurrency market seems to be in a state of confusion due to the high price volatility seen in the last few days. Amid this market uncertainty, crypto whales seem to be hoarding Cardano (ADA) tokens, as reported by a prominent crypto expert on X (formerly Twitter).
Whales buy 90 million ADA tokens
In a post on X, the expert stated that whales have bought a significant 90 million ADA tokens in the last 96 hours, which is equivalent to the previous four days. This large stock represents a good buying opportunity and potential for a rally.
However, ADA's price appears to be struggling and declining to recover from yesterday's impressive 7 percent gain.
Current price momentum
Currently, ADA is trading around $0.968 and has experienced a price drop of over 2.85% in the last 24 hours. However, in the same period, the volume of trading increased by 27.5 percent as investors and traders showed high participation due to the recent collapse of the price system.
Cardano (ADA) price action and upcoming levels
With the recent decline in prices, ADA price has reached a high, and it seems that the price has come to this level for a retest, which will increase the momentum. As long as the altcoin holds itself above the 200 exponential moving average (EMA) on the four-hour time frame and at the $0.955 level, the ADA remains bullish.
ADA price forecast
Based on the recent price action, there is a high probability that ADA will rise by 17.5% in the coming days to reach the next resistance level of $1.135. On the positive side, the ADA Relative Strength Index (RSI) is neither overbought nor oversold, indicating that the asset has ample room for a higher advance.
This high price action pattern and recent whale activity indicate potential momentum and a good buying opportunity.
