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ADA Soars: Whales Accumulate Ahead of Trump’s Inauguration

by Drop Gorn
January 18, 2025
in Crypto
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ADA Soars: Whales Accumulate Ahead of Trump’s Inauguration
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  • ADA has broken out of a bullish inverted head-and-shoulders pattern, with a potential 42% rally targeting $1.63 if it holds above $1.15.
  • Whales recently accumulated 130 million ADA tokens, signaling strong confidence from large investors ahead of potential bullish momentum.
  • ADA is trading at $1.14 with a 1.20% daily gain, supported by an 11% increase in trading volume, reflecting growing trader interest.

As the excitement builds ahead of President-elect Donald Trump’s inauguration, bullish momentum is surging across the crypto market. Cardano’s ADA token, in particular, has broken out from a bullish inverted head-and-shoulders pattern on the daily chart, signaling the potential for significant upside.

ADA Technical Breakout and Targets

  • ADA recently broke out from a bullish pattern, clearing the way for a possible 42% rally if it maintains support above $1.15, potentially reaching $1.63.
  • The Relative Strength Index (RSI) at 63 suggests the token has room for further growth, aligning with the overall positive market sentiment.

Whales and Traders Fuel Optimism

  • On-chain data reveals that whales accumulated 130 million ADA tokens between January 15–16, indicating strong confidence from large holders.
  • The ADA Long/Short ratio stands at 1.10, with 53% of top traders holding long positions, reinforcing a bullish stance among market participants.

Current Market Dynamics

  • ADA trades near $1.14, up 1.20% in the past 24 hours, with an 11% increase in trading volume, signaling heightened interest as traders align with the broader market recovery.
Tags: $ADABlockchainCardanocryptoDonald Trump
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