According to prominent cryptocurrency analyst Ali Martinez, Cardano (ADA) whales are increasing their ADA holdings. The analyst notes that whales with over $10 million worth of ADA have increased their positions by 145.72%. Whale movements often lead to price fluctuations. An increase in whale accumulations could lead to ADA witnessing a price spike over the next few days.
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#Cardano whales have been actively accumulating $ADA over the past month, with holders of over $10 million in #ADA increasing their positions by 145.72%! pic.twitter.com/a7v39zktuJ
— Ali (@ali_charts) November 20, 2024
ADA’s price has faced significant hurdles over the last few years. The project slipped out of the top 10 projects by market cap, failing to gain momentum. ADA’s performance over the previous few weeks has been commendable. The project has climbed back into the top 10 projects and is inching closer to the $1 mark.
Cardano (ADA) is currently up by 8.2% in the daily charts, 52.2% in the weekly charts, 127.9% in the 14-day charts, and 122% over the previous month. ADA’s price has also increased by 109.3% since November 2023.
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Will Cardano Hit $1.50 Next?
According to CoinCodex, ADA will continue to rally over the next few months. The platform anticipates the asset breaching the $1.50 mark on Jan. 5, 2024, a little over a month from now. CoinCodex further predicts ADA will hit $1.99 on Jan. 13, 2024.
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Changelly analysts are quite bearish on Cardano (ADA). The platform anticipates ADA trading at a potential maximum price of $0.59 in January 2025. Changelly does not anticipate ADA breaching the $1.50 mark until at least April 2028.
There is a high possibility that ADA will breach the $1 mark very soon. Whales seem bullish on the asset, and the current bull run may continue for quite some time. Donald Trump winning the US Presidential election may give investors a lot of hope for big gains. Trump has been very supportive of the crypto sector. Many anticipate lenient regulations under his regime.
