CandleFocus Cardano price could rebound 60% despite notable selling activity
2025-01-09
Author: Content Editor
The price of Cardano (ADA) has been on a downward trend, reaching its lowest level since Jan. 1 and 33% below its 2024 high. Whales have sold over 70 million ADA tokens, totaling around $63 million. However, there are several catalysts that could potentially push ADA price higher in the coming months, such as a potential Bitcoin rebound, upcoming major upgrades for Cardano, and a lighter regulatory approach expected under the incoming Donald Trump administration. The daily chart shows that Cardano's price could see further upside, with the formation of a bullish pennant pattern and a break-and-retest pattern, indicating potential gains in the first quarter of the year. The price of ADA could potentially jump to $1.410, representing a 60% increase from the current level.
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