News View Non-AMP

ADA Price Prediction for January 16

Published by
Chandan Gupta

The overall cryptocurrency market is experiencing massive upside momentum following the Securities and Exchange Commission (SEC) plan to review and close all pending cases. This update has shifted the overall market sentiment, and massive price surges have been witnessed in all major cryptocurrencies.

Crypto Whales Buys 100 Million ADA Token

Amid this bullish outlook, ADA, the native token of the Cardano blockchain, is receiving widespread attention from crypto enthusiasts due to massive accumulation by whales. Today, January 15, 2025, a prominent crypto expert posted on X (formerly Twitter) that crypto whales have accumulated a significant 100 million ADA tokens in the past 48 hours.

However, this massive accumulation, the recent SEC plan to free crypto cases not involved in any fraud, and Trump’s inauguration are responsible for ADA’s rally today.

Current Price Momentum

According to CoinMarketCap data, today, ADA witnessed a price rally of over 7.5% in the past 24 hours and is currently trading near the $1.065 level. This massive price surge and the recent developments during the same period have attracted significant attention from traders, resulting in a 76% jump in trading volume.

Meanwhile, traders and investors need to be aware of the crucial levels and also understand the potential levels that ADA could reach in the future.

ADA Price Action and Key Levels

According to the altcoin’s daily chart, with the impressive price surge, ADA has reached a crucial trendline resistance level where it has previously witnessed price reversals. Some are expecting a similar price reversal, but looking at the current market sentiment, there is a strong possibility that it won’t happen.

ADA Price Prediction

Additionally, since December 2024, the market sentiment has remained uncertain, and during this period, ADA has formed a bullish inverted head and shoulders price action pattern. It is now standing near the neckline, which appears to be a resistance level.

Based on the recent price action, if ADA breaches the trendline and closes a daily candle above the horizontal level of $1.15, there is a strong possibility it could soar by 40% to reach the $1.645 level in the future.

On the positive side, ADA’s Relative Strength Index (RSI) is still below the overbought area, indicating that the asset still has enough room to witness massive upside momentum.

Chandan Gupta

Chandan Gupta is a crypto analyst and news writer at CoinPedia. He specializes in market analysis using on-chain metrics and industry insights to forecast market trends. With over four years of trading experience, Chandan simplifies complex concepts in technical and on-chain analysis, making them easy to understand. At CoinPedia, he leverages his expertise to identify and present emerging opportunities in the cryptocurrency space

Recent Posts

Crypto Pro Who 500x’d on PEPE Says This Coin Is the Next Big Thing—And It’s Launching Now!

A seasoned crypto expert, renowned for turning a remarkable profit on PEPE, now points to…

April 20, 2025

Dogecoin (DOGE) and 2 More Altcoins You Can’t Afford to Miss in 2025

Dogecoin (DOGE) showed strong market growth by reaching $0.1569 while increase and 3.3% within 24…

April 20, 2025

SHIB Investors Turning Heads—Influencer Pepe to Lead New Meme Coin Revolution

Shiba Inu (SHIB) investors are stirring—after a wild ride, SHIB’s holding steady at $0.00001222 with…

April 20, 2025

The 5 Most Talked-About Cryptos of Q1 2025, Are You Holding Them?

Rexas Finance (RXS) has emerged as the leading topic in crypto circles in Q1 2025,…

April 20, 2025

Is Pi Network Breakout Imminent? New Roadmap Sparks 4% Surge Amidst Mixed Reactions

Pi Network price has surged over 4% in the past 24 hours following the launch…

April 20, 2025

Charles Schwab to Launch Spot Crypto Trading by 2026, Boosting Bitcoin and Ethereum Access

Charles Schwab’s new CEO, Rick Wurster, announced that the company is gaining significant momentum in…

April 20, 2025