Cardano has had a fair share of price turmoil in 2024, with ADA briefly claiming the $1 crown after several attempts. At press time, the token is sitting at $1.09, inching back and forth to claim a new possible high. Will ADA be able to scale past the $1.50 price mark to hit $2 anytime soon? Let’s find out.
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Cardano Whales Amp Up Buying ADA Tokens
In a fascinating turn of events, ADA whales have lately been scooping up large amounts of ADA tokens, signaling support for Cardano in the long haul. Per Ali, a notable crypto price analyst, whales have accumulated nearly 40 million Cardano tokens in the last 24 hours, helping ADA bolster its momentum in the long haul.
At the same time, Ali has keenly predicted a new price path for Cardano. Per the analyst, ADA is already brewing a major price push, replicating its earlier price patterns to hit $4. If all goes well, ADA to $4 will no longer be a fantasy, per Ali, as the token is already charting its own path to claim new highs.
In addition to this, the US political landscape is also up for a deep overhaul in January after Trump’s official inauguration ceremony. Several analysts are viewing this shift as pivotal for the cryptocurrency realm, which can usher in a positive price momentum for Bitcoin, which in turn can fuel the altcoin market to help coins like ADA soar to new highs.
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The Token’s Price Forecast for Mid-January 2025
Per CoinCodex, Cardano may plummet to sit at a new low of $1.05 by January 15, 2025.
However, the token may stabilize around $1.39 by the end of January 2025.
“According to our current Cardano price prediction, the price of Cardano is predicted to rise by 27.69% and reach $ 1.391904 by February 5, 2025. Per our technical indicators, the current sentiment is bullish while the Fear & Greed Index is showing 76 (extreme greed). Cardano recorded 14/30 (47%) green days with 10.73% price volatility over the last 30 days. Based on the Cardano forecast, it’s now a good time to buy Cardano.”
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