January 13 Cardano (ADA) Price Forecast

Crypto whales have recently purchased a significant amount of 90 million ADA tokens. This accumulation of Cardano (ADA) tokens suggests a favorable buying opportunity and the potential for an upward rally. The current cryptocurrency market has been volatile, but amid this uncertainty, whales are accumulating ADA tokens.

According to a prominent crypto expert on X (formerly Twitter), whales have bought over 90 million ADA tokens in the past four days. This substantial purchase indicates a positive outlook for ADA and the possibility of a price increase.

However, despite yesterday’s impressive gain of over 7%, the ADA price is currently facing a decline. It is trading near $0.968, with a decrease of over 2.85% in the past 24 hours. Despite this decline, there has been strong participation from investors and traders, resulting in a 27.5% increase in trading volume.

The recent price decline has brought the ADA price to a breakout level, suggesting a potential retest and aiming for further upward momentum. As long as ADA maintains itself above the 200 Exponential Moving Average (EMA) on the four-hour time frame and the $0.955 level, it remains bullish.

Based on recent price action, there is a strong possibility that ADA could increase by 17.5% and reach the next resistance level of $1.135 in the coming days. The Relative Strength Index (RSI) for ADA is neither in the overbought nor oversold area, indicating room for significant upward momentum.

In summary, the recent whale activity and bullish price action pattern suggest potential upward momentum for ADA and an ideal buying opportunity.