Convergence

Flow

Cardano

Divergence

<img width="1200" height="630" src="https://coingape.com/wp-content/uploads/2024/01/photo_5860805273273348738_w-e1705605003147.jpg" class="attachment-full size-full wp-post-image" alt="Cardano price prediction" decoding="async" style="float:right; margin:0 0 10px 10px;">
Cardano price prediction: ADA experienced a promising upturn on January 8, suggesting a potential reversal in its recent downtrend. However, this initial gain failed to sustain, and the asset did not achieve a significant breakout. Since reaching its yearly high on December 14, 2023, Cardano has been trapped within a corrective pattern.&nbsp; 
This trend continued with an unsuccessful attempt to break through this barrier on January 11, 2024, leading to a further decline. The last month has seen a growing dominance of bearish momentum, overshadowing brief recovery periods. 
Despite these short-term setbacks, Cardano’s performance over the past year has been uplifting with a bullish momentum. The asset has witnessed a substantial increase of over 50% compared to the previous year. This remarkable growth has fostered a sense of optimism among investors and market analysts.&nbsp; 
They remain positive about the future, anticipating potential bullish trends. Their confidence is bolstered by Cardano’s resilience amidst the recent market volatility, underlining a strong belief in its long-term potential. 
Today’s market update reveals a downward trend in the value of Cardano, mirroring a general dip across the cryptocurrency sector.<a href="https://coingape.com/price/cardano/"> Cardano price</a> is valued at $0.5111, marking a 2.93% decline in the last day. This decrease reflects the broader bearish sentiment dominating the market at this moment. 
<figure id="attachment_175163" aria-describedby="caption-attachment-175163" style="width: 100%" class="wp-caption aligncenter">
 <figcaption id="caption-attachment-175163" class="wp-caption-text">
 Cardano price chart | <a rel="nofollow" href="https://www.tradingview.com/x/IYeOAbus/">Tradingview</a>
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</figure> 
With a market capitalization of $18 billion, this Altcoin maintains its position within the top ten <a href="https://coingape.com/glossary/cryptocurrency/">cryptocurrencies.</a> Over the past 24 hours, the trading volume has increased by 4%, reaching $319 million. This suggests that investor activity is still robust despite the current price challenges. <a rel="nofollow" href="https://coinmarketcap.com/currencies/cardano/">ADA’s</a> trading range in the past week has been relatively narrow, fluctuating between $0.58 and $0.51. Recently, bearish trends have led to breaking below key support levels. 
<h2 id="strong-whale-activity-in-cardano-signals-potential-bullish-momentum-strong">Whale Activity in Cardano Signals Potential Bullish Momentum</h2> 
In the recent post by IntoTheBlock, a surge in activity among Cardano’s top-tier investors was spotlighted. The study emphasized that these prominent entities consistently engage in substantial trades, averaging around $13 billion in daily transactions. Each of these transactions notably surpasses the $100,000 mark. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 Cardano whales have been quite active for the past few months. $13B in large transactions (&gt;$100k) is being settled on Cardano daily on average. A significant amount, if you compare it to Ethereum's $5B 7-day average. <a href="https://t.co/8rjeQZaonU">pic.twitter.com/8rjeQZaonU</a> 
 — IntoTheBlock (@intotheblock) <a href="https://twitter.com/intotheblock/status/1747915671583731726?ref_src=twsrc%5Etfw">January 18, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
Comparatively, IntoTheBlock’s report places Cardano’s transactional volume in stark contrast with Ethereum, the crypto market’s runner-up. Ethereum’s significant transactional activity maintains a 7-day average of nearly $5 billion, markedly less than Cardano’s daily volumes, highlighting the intense and affluent activity within the Cardano network. 
<h2 id="strong-technical-analysis-of-cardano-reveals-contrasting-market-trends-strong">Technical Analysis of Cardano Reveals Contrasting Market Trends</h2> 
The surge of whale activity could propel ADA towards a bullish trend. If the bulls regain control, the first target for the coin could be the resistance level of $0.65. A sustained bullish momentum might push the <a href="https://coingape.com/markets/cardano-price-prediction-experts-foresee-surge-1-in-january/">price of ADA</a> to approach $1 in the near future. Conversely, if the bearish trend persists, <a href="https://coingape.com/markets/cardano-price-prediction-is-0-5-a-safe-in-market-uncertainty/">ADA</a> may test the support level at $0.5. A further drop to the $0.3 mark could be on the horizon in a more bearish scenario. 
<figure id="attachment_175160" aria-describedby="caption-attachment-175160" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-175160" src="https://coingape.com/wp-content/uploads/2024/01/ADAUSD_2024-01-18_22-00-09.png" alt="Cardano Price Prediction" width="1149" height="652" srcset="https://coingape.com/wp-content/uploads/2024/01/ADAUSD_2024-01-18_22-00-09.png 1149w, https://coingape.com/wp-content/uploads/2024/01/ADAUSD_2024-01-18_22-00-09-300x170.png 300w, https://coingape.com/wp-content/uploads/2024/01/ADAUSD_2024-01-18_22-00-09-768x436.png 768w, https://coingape.com/wp-content/uploads/2024/01/ADAUSD_2024-01-18_22-00-09-150x85.png 150w" sizes="(max-width: 1149px) 100vw, 1149px">
 <figcaption id="caption-attachment-175160" class="wp-caption-text">
 Cardano price chart | <a rel="nofollow" href="https://www.tradingview.com/chart/PpwAwjR5/?symbol=COINBASE%3AADAUSD">Tradingview</a>
 </figcaption>
</figure> 
The daily technical indicators present a mixed market outlook. The Moving Average Convergence Divergence (MACD) demonstrates a bearish trend, with its MACD line and signal line trending below zero. Simultaneously, the Chaikin Money Flow (CMF) indicator resides in negative territory, marked at $-0.08, reinforcing the bearish sentiment. However, several oscillators show a neutral position, hinting at the possibility of a bullish breakout in the near term. 
&nbsp; 
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The post <a href="https://coingape.com/markets/cardano-price-prediction-as-whale-activity-surges-to-13-billion-will-ada-rebound/">Cardano Price Prediction as Whale Activity Surges to $13 Billion; Will ADA Rebound?</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Cardano Price Prediction as Whale Activity Surges to $13 Billion; Will ADA Rebound?

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