- ADA broke above $1 on Wednesday and claimed a daily high of $1.09.
- The altcoin has failed to break above the massive resistance of $1.10 on Thursday.
- ADA witnessed a bullish divergence on the MACD indicator, suggesting a bullish reversal.
Cardano’s (ADA) price is edging closer to the key $1.10 resistance level, with traders anticipating potential movement within the next 24 hours. As of January 16, ADA has reached a daily high of $1.09 but currently trades at $1.06, reflecting a 3.60% increase over the past day, according to CoinMarketCap.
ADA’s performance mirrors the broader crypto market, which has seen renewed optimism following Bitcoin’s brief climb above $100,000. Despite this rally, ADA is still 65.96% below its all-time high of $3.10, leaving traders wondering if bullish momentum will propel the token past its resistance barrier on January 17.
Institutional Interest Remains Key to ADA Growth
Cardano has struggled to replicate the explosive growth seen by competitors like Solana (SOL). According to users on X (formerly Twitter), this could be attributed to a lack of institutional backing, which leaves Cardano heavily reliant on its communi…
The post Cardano (ADA) Price Prediction for January 17: What to Expect in the Next 24 Hours appeared first on Coin Edition.
