The cryptocurrency market is experiencing significant growth due to the SEC's update on reviewing and closing all pending cases, leading to positive market sentiments.
Whale Accumulation of ADA
Amid bullish expectations, ADA, the token of the Cardano platform, has garnered attention from crypto enthusiasts due to significant whale purchases. On January 15, 2025, a crypto expert reported that 100 million ADA tokens have been accumulated over the past 48 hours.
Current ADA Price Momentum
According to CoinMarketCap, ADA has increased by over 7.5% in the past 24 hours and is trading near $1.065. This has attracted significant attention from traders, resulting in a 76% increase in trading volume.
ADA Price Predictions
Since mid-December 2024, ADA has shown a bullish inverted head and shoulders pattern. If ADA breaches the trendline and closes a daily candle above $1.15, a potential 40% rise to $1.645 is possible. The RSI indicator remains below the overbought area, indicating further growth potential.
The SEC plans and ADA whale accumulation highlight positive market sentiments. Investors continue to closely monitor developments.
