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ADA Price Prediction – Can Cardano Reclaim 100 SMA and Rally?

Cardano (ADA) is moving lower below the $0.500 resistance zone. ADA could gain bearish momentum and decline if it stays below the 100 SMA (H4).

  • ADA price is slowly moving lower from the $0.520 zone.
  • The price is trading below $0.500 and the 100 simple moving average (4 hours).
  • There is a key bearish trend line forming with resistance at $0.4740 on the 4-hour chart of the ADA/USD pair (data source from Kraken).
  • The pair could attempt a fresh increase if the bulls remain active above the $0.4280 support.

Cardano Price Faces Key Hurdles

In the past few days, Cardano saw a steady decline from the $0.520 resistance zone, like Bitcoin and Ethereum. ADA price declined below the $0.500 and $0.4950 levels to enter a bearish zone.

There was a move below the 50% Fib retracement level of the upward move from the $0.4000 swing low to the $0.5201 high. It even declined below $0.4650 and tested $0.450. The price is now trading below $0.500 and the 100 simple moving average (4 hours).

There is also a key bearish trend line forming with resistance at $0.4740 on the 4-hour chart of the ADA/USD pair. The bulls seem to be active near the $0.450 zone and the 61.8% Fib retracement level of the upward move from the $0.4000 swing low to the $0.5201 high.

On the upside, immediate resistance is near the $0.4740 zone, the 100 simple moving average (4 hours), and the trend line. The first resistance is near $0.4920. The next key resistance might be $0.500. If there is a close above the $0.50 resistance, the price could start a strong rally.

ADA Price Prediction

Source: ADAUSD on TradingView.com

In the stated case, the price could rise toward the $0.5250 region. Any more gains might call for a move toward $0.5650.

More Losses in ADA?

If Cardano’s price fails to climb above the $0.4740 resistance level and the 100 simple moving average (4 hours), it could continue to move down. Immediate support on the downside is near the $0.450 level.

The next major support is near the $0.4280 level. A downside break below the $0.4280 level could open the doors for a test of $0.40. The next major support is near the $0.3880 level.

Technical Indicators

4 hours MACD – The MACD for ADA/USD is gaining momentum in the bearish zone.

4 hours RSI (Relative Strength Index) – The RSI for ADA/USD is now below the 50 level.

Major Support Levels – $0.4500, $0.4280, and $0.4000.

Major Resistance Levels – $0.4740, $0.5000, and $0.5200.

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Crypto Analyst Predicts Cardano Recovery After ABC Wave Completion, Here’s The Target

Cardano suffered a massive price crash over the last two weeks. However, with the market recovery, the ADA price has begun to see some positive headwinds. Analysts expect this recovery to continue, with one crypto analyst in particular, who goes by CobraVanguard, expecting a bullish continuation toward $1.

Cardano Completes The ABC Wave

The crypto market crash, led by Bitcoin, saw the prices of Cardano and other altcoins plunge into a dreaded ABC wave. This wave is notorious for causing massive dips to the tune of 50%, leaving investors in losses in its wake.

The crypto analyst revealed that Wave A had taken place when Cardano had fallen from $0.8 to $0.57, and then Wave B saw the recovery from $0.57 to $0.68. The third and final wave, Wave C, saw the price crash from $0.77 to $0.4 before bouncing upward once again, signaling the completion of the ABC wave.

As with all other crashes, there comes a time when the ABC wave is over, and the price of an altcoin can recover, and it seems Cardano has entered this range. The price of the altcoin has since recovered above $0.5, with the bulls now taking control.

From here, the analyst expects the recovery to continue and rally with a new wave. “After the fifth bullish wave, Cardano has completed his corrective waves (ABC) and now he has reached the end of the wedge, now it is time to start the five bullish waves,” CobraVanguard said.

ADA price chart from Tradingview.com

ADA Price Targets

CobraVanguard outlines a number of reasons why they believe that the Cardano price is going to be bullish. Firstly, they outline an ascending structure of the chart, which suggests a bullish continuation. Next is the bullish wedge that is forming in the chart. Also, high-potential areas are becoming clearer in the chart, as the analyst outlined.

In the first wave, the analyst outlines a possible jump to $0.77. From here, they expect that the price will retrace a bit to $0.64 before resuming the uptrend. However, the analyst takes a more conservative stance compared to other analysts about the top, putting it somewhere around $1.09.

The analyst further pointed out that in a situation where the wedge were to break down, it could invalidate this, and possibility lead to a decline in price. “Note that if the WEDGE is broken down with the power of descending candles, our analysis will fail,” CobraVanguard concluded.

Cardano price chart from Tradingview.com

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Analyst Predicts Cardano (ADA) To Rally By 75% As MVRV Ratio Plummets

In recent weeks, ADA, the native token of the Cardano network. has drawn much speculation due to a rather turbulent price performance resulting in a decline of 18.77% in the past month. This negative price movement is similar to the majority of the cryptocurrency market following unprecedented massive dips in the price of Bitcoin. 

However, despite ADA’s troubles, popular crypto analyst Ali Martinez is backing the coin to pull off a remarkable rebound. Interestingly, Martinez’s prediction comes as the digital asset attempts to find its feet, gaining by 9.92% in the last day, according to data from CoinMarketCap.

ADA Tipped To Hit $0.80, Record Yearly High

In a post on X on April 19, Ali Martinez shared that ADA may soon record an impressive price surge. Martinez predicted the tenth largest cryptocurrency could soon record a 75% gain due to its MVRV Ratio being lower than -22%.

For context, the Market Value to Realized Value (MVRV) ratio is a metric used in crypto technical analysis to assess the valuation of a digital asset relative to its realized value. It is basically used to know if a token is overvalued or undervalued based on its market price compared to the average cost basis of its holders.

 

An MVRV ratio of -22% indicates that the market value of ADA  is significantly less than its realized value. However, Ali Martinez notes the last time the coin was this undervalued was in June 2023, after which it rose by 75% in the next month. 

Based on such historical price data, the crypto analyst predicts ADA could replicate a similar performance over the next few weeks, attaining a market price of $0.80, which would represent its highest value in the last year. At the time of writing, ADA trades at $0.46, with a 2.43% gain in the last hour. In a similar fashion, the token’s daily volume is up by 43.07% and $595.30 million.

Cardano Launches New Era Of Decentralized Governance 

In other news, the Cardano network is set to commence a new era in decentralized governance, according to an announcement by the CEO of the Cardano Foundation, Frederick Gregaard. In an X post on April 18, Gregaard stated the full constitution for this change in government “is on the horizon,” with an interim constitution now going into effect.

According to the Cardano Foundation boss, the interim constitution emphasizes core network values such as transparency, openness, and responsible decision-making. It aims to grant each ADA holder an influence in determining the future of the Cardano ecosystem via an inclusive government in which all stakeholders are privileged to certain rights and responsibilities as listed in the constitution. 

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Crypto Analyst Predicts Cardano Rally To $3 As Price Reaches ‘Ultimate Support Test’

Crypto analyst Trend Rider has drawn Cardano (ADA) holders’ attention to the crypto token’s potential to experience a significant price rally soon enough. Based on Trend Rider’s analysis, Cardano could rise to as high as $3 when this happens. 

Cardano To Rise To $3 If History Repeats Itself

Trend Rider mentioned in an X (formerly Twitter) post that if history repeats itself, Cardano might be on the brink of its “ultimate support test” before it makes a parabolic move to the upside. He further suggested that the crypto token could soar to $3, considering the same happened in October 2020 when Cardano’s price dipped to $0.10 and skyrocketed to $3 afterwards.  

The crypto analyst also revealed that Cardano was currently experiencing a bullish Relative Strength Index (RSI) crossover and retest, which could mean it was indeed gearing up for another parabolic move. This RSI crossover is an indicator that “perfectly predicts bull and bear markets for ADA.”

Cardano

Meanwhile, in an earlier X post, Trend Rider explained how crucial it was for Cardano to hold its current support level. According to him, ADA’s price is “right now at an extremely critical level, and if it fails to hold its current support zone, then it could fall quickly to $0.25.” However, if Cardano manages to hold above this support level, then this could be the “exact bottom right now” before it rises to $1, Trend Rider claimed. 

Trend Rider further elaborated that Cardano’s next move will depend “entirely” on what Bitcoin does. He predicts that altcoins like Carano will experience a “monstrous bounce” if the flagship crypto rises above $65,000 after its current price dip. However, if Bitcoin’s price continues to dip, then it is “bear market mode,” Trend Rider added. 

Cardano Won’t Be In The Red Forever 

Crypto analyst Alan Santana has provided some form of optimism to ADA holders, stating that the crypto token won’t be red forever. He made this statement while acknowledging that Cardano has maintained a bearish outlook, having been in the red for seven weeks now. Despite that, he remains bullish on the crypto token’s future trajectory as he predicts that Cardano will experience a “big green” in the “latter part of 2024 and most of 2025.”

Santana also noted that this was an excellent time to accumulate for those who intend to enjoy the “entire bullish wave.” For those looking to invest in ADA long-term, the crypto analyst highlighted the price range of $0.40 and $0.45 as a good “buy zone.” That is also the price area Santana had previously predicted Cardano could drop to in its bid to find support.

At the time of writing, Cardano is trading at around $0.45, down almost 2% in the last 24 hours, according to data from CoinMarketCap. 

Cardano price chart from Tradingview.com

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Cardano (ADA) Prints ‘Undeniable Bull Run’ Signal: Crypto Analyst

The price of Cardano (ADA) has experienced a decline in recent weeks. Following a peak at a 23-month high at $0.808 on March 11, the price of ADA has fallen by over 28%, and it is now hovering just below the $0.60 level. Notably, Cardano has underperformed compared to its competitors, slipping to the 10th position among the largest cryptocurrencies by market cap.

However, a crypto analyst, known as Trend Rider (@TrendRidersTR) on X, has declared that ADA is showing clear signs of a bull run based on technical analysis of its Relative Strength Index (RSI) and Simple Moving Average (SMA) crossovers.

What This Means For Cardano Price

According to Trend Rider’s recent post on X, Cardano’s current market behavior mirrors a rare pattern in the one month chart (ADA/USD) observed only once before, which led to a significant price surge from $0.05 to $3.00.

The analyst emphasized, “ADA’s undeniable bull run is here. With its second RSI crossover in history, it’s reminiscent of when prices soared from $0.05 to $3. This rare event, marking a potential trend shift as the RSI crosses its SMA, has flawlessly predicted past cycles shifts at it’s early stages.”

The analysis presented by Trend Rider focuses on the RSI, a momentum oscillator that measures the speed and change of price movements, and its crossover with the SMA, a common trading signal interpreted as a potential bullish or bearish market indicator.

Cardano price analysis

The post details three critical phases in Cardano’s recent market activity. The first crossover occurred shortly after the COVID-19 pandemic onset when ADA traded at $0.19, marked by a substantial price increase following the crossover event.

At the end of the 2021 bull run, a bearish crossover took place that heralded a prolonged bear market. “Notice how perfect the bearish crossover anticipated the bear market. This is an extremely strong validation for this indicator. Making it very relevant to predict ADA long term cycles,” the analyst states.

The second bullish crossover of the RSI with the SMA occurred in October and November 2023, this event was initially met with market rejection a few months earlier, adding credibility to the indicator’s reliability in predicting long-term market trends.

Trend Rider concludes, “The RSI and its SMA crossovers are an extremely reliable source to identify ADA bull runs and bear markets at its early stages.” This analysis suggests that Cardano is currently entering a bull market phase, reinforcing the optimistic outlook for ADA.

Moreover, the analyst warned the one-month chart reflects a macro perspective for holders, “each candle represents one month, so you can expect huge volatility within each candle.” Furthermore, he cautioned of the inherent risks in crypto investments, noting the importance of a personalized investment strategy to navigate potential market volatility and unforeseen events, often referred to as ‘black swan’ events.

“VERY IMPORTANT: Personally, these macro charts help me see the bigger picture, but I always use my own process to secure profits and protect myself from any black swan event,” Trend Rider added.

If history is any indicator, the current patterns could spell a lucrative phase for Cardano holders, but as always in crypto markets, caution remains a critical companion to enthusiasm.

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Cardano At Risk Of Crashing To $0.4 As Important Metrics Turn Bearish

Cardano (ADA) risks a significant price decline as several on-chain metrics paint a bearish sentiment for the crypto token. This coincides with a recent technical analysis by a crypto analyst, who predicted that ADA could drop to as low as $0.4.

ADA Sees Decline In Trading Volume

Data from the on-chain analytics platform Messari shows a decline in ADA’s trading volume from its recent peak. The crypto token recorded a daily trading volume of $1.53 billion on March 14 but has been on a steady decline since then, recording a daily trading volume of $445.83 million on April 10. 

Furthermore, data from IntoTheBlock shows three other on-chain metrics signaling a bearish sentiment for the crypto token. The first is the ‘Net Network Growth,’ which has experienced a 0.17% increase in the past week. This metric measures the total number of ADA addresses, meaning more users have left the ecosystem than new ones have come this last week. 

The second metric is the ‘In the Money,’ which has seen a 0.20% decline in the last seven days. This metric measures the number of ADA holders that are currently in profit at the crypto token’s price level. Meanwhile, large transactions on the Cardano network have also dropped lately, with a 2.60 decline. These large transactions refer to transactions that are over $100,000, suggesting that ADA whales are cooling off on investing in the crypto token. 

These bearish on-chain metrics further strengthen crypto analyst Alan Santana’s analysis, in which he mentioned that ADA could drop between $0.4444 and $0.3450. Back then, he noted that ADA still had a bearish outlook from a technical analysis perspective, and this outlook would extend until ADA found a strong support level on the charts. 

ADA’s Derivatives Market Also Shows Bearish Outlook

Data from Coinglass shows that the bears are also firmly in control of the ADA ecosystem. In the last 24 hours, $632,720 has been wiped out from ADA’s derivatives market, with long positions ($502,170) accounting for most of these liquidations. 

Meanwhile, trading volume in ADA’s derivatives market has dropped by over 11%, suggesting a declining interest in the ADA token among crypto investors. Furthermore, the Options trading volume paints a more bearish picture, dropping by 92% in the last 24 hours.  

At the time of writing, ADA is trading at around $0.59, up over 1% in the last 24 hours according to data from CoinMarketCap. 

Cardano price chart from Tradingview.com

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ADA Price Ready To Soar As Cardano Network Hits New 88.6 Million Transaction Milestone

The Cardano (ADA) price looks set for a significant move to the upside. The network recently hit a new milestone in terms of transactions processed so far, in addition to other bullish fundamentals that could also contribute to the price surge. 

Cardano Has Processed Over 88 Million Transactions

Data from Cardano’s latest weekly development report shows that the network has processed 88.6 million transactions to date. This is significant as sustained network activity can positively affect ADA’s price. Moreover, ADA has always been criticized as a “ghost chain,” this achievement dispels that notion and proves that people are actively using the network. 

Cardano (ADA)

Meanwhile, the report revealed that 1,353 projects are actively building on the network, which means the network will keep expanding as more users get onboarded through those projects. Additionally, Cardano’s Fund12 officially launches on April 26, with this decentralized and innovative incubator program set to usher in a new set of developers into the Cardano ecosystem. 

That event also underlines Cardano’s potential to experience exponential network growth soon enough. It is also a testament to Cardano founder Charles Hoskison’s statement that the network is growing organically like Bitcoin, seeing as the team has continued to put in the work rather than solely depending on hype. 

Considering these bullish developments, ADA’s price could be well primed for a significant move to the upside. This will provide a much-needed relief for ADA holders who have continued to worry about the crypto token’s lagging price action. ADA’s price had remained pretty tepid despite the broader crypto market recording massive price gains. 

ADA Price Chart Says Otherwise

From a technical analysis perspective, the Cardano ecosystem is currently bearish. Technical analyst Alan Santana recently mentioned that further price declines are more feasible as ADA’s price has continued to lag. He revealed that ADA’s weekly chart is producing a “break below the EMA10 (Exponential Moving Average) with a very strong bearish candle as the RSI (Relative Strength Index) turns red. “

Santana also suggested that ADA’s price could drop to as low as $0.34 in a bid to establish support. Therefore, he stated that the “only wise decision is to remain bearish until the chart and market conditions change.” “Once support is found and established, we become bullish again,” the analyst added. 

At the time of writing, ADA is trading at around $0.58, up in the last 24 hours according to data from CoinMarketCap. 

ADA price chart from Tradingview.com (Cardano)

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Crypto Analyst Predicts ADA Price Crash To $0.34, Why Is Cardano Founder Bullish?

Cardano (ADA) is again in the spotlight as crypto analysts continue to deliberate on its future trajectory. This time, crypto analyst Alan Santana has laid out a bearish narrative for the crypto token, which could cause its price to drop drastically. 

How ADA Could Crash To $0.34

In his analysis, Santana stated that ADA’s breakout below the $0.58 price level, which has acted as support for the crypto token for five weeks, signals a bearish sentiment toward it. In line with this, he suggested that ADA’s price could further dip significantly even though it has already experienced a 30% decline from its recent price peak. 

The crypto analyst mentioned that a further price dip for ADA could cause its price to drop between $0.4444 and $0.3450. However, this isn’t necessarily bad for the crypto token as Santana revealed that altcoins, which have in the past seen a 2x to 3x increase in their prices, experienced corrections of such magnitude before then. 

He added that before the end of their correction, all these altcoins moved to test a price range between 0.618 and 0.786 Fibonacci retracement level. From the chart he shared, one can see that the analyst stipulated that ADA could drop to as low as $0.34 because that is the price level for the 0.786 Fibonacci retracement level. 

Cardano

Furthermore, Santana acknowledged that ADA could move higher from its current price level but seemed skeptical because the crypto token has continued to lag, making further price declines more feasible. 

He also revealed that ADA’s weekly chart is producing a “break below the EMA10 (Exponential Moving Average) with a very strong bearish candle as the RSI (Relative Strength Index) turns red. “Once support is found and established, we become bullish again,” the analyst concluded. 

Cardano Founder Is Bullish On ADA

Cardano’s founder, Charles Hoskinson, sounded bullish on the Cardano ecosystem in a recent X (formerly Twitter) post, stating that “Cardano always wins.” Hoskinson’s statement came in response to a poll to rank the best Layer-1 network. Hoskinson suggested that the poll was already biased and that Cardano would surely come out on top if it were a “fair vote.”

Meanwhile, this occurrence again highlights Hoskinson’s confidence in the Cardano network he founded. He once even compared the network to Bitcoin, noting how it was growing organically like the flagship blockchain. At different times, he also insinuated that Cardano has real network value, unlike networks like Solana.

However, so far, Cardano’s network value has failed to positively affect ADA’s price, which is undoubtedly a cause for concern among ADA holders. 

At the time of writing, ADA is trading at around $0.56, down over 2% in the last 24 hours, according to data from CoinMarketCap.

ADA price chart from Tradingview.com

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ADA Price Prediction – Here’s Why Cardano Could Dump To $0.50

Cardano (ADA) is moving lower below the $0.620 resistance zone. ADA could gain bearish momentum and decline toward the $0.50 support.

  • ADA price is slowly moving lower from the $0.670 zone.
  • The price is trading below $0.620 and the 100 simple moving average (4 hours).
  • There is a key bearish trend line forming with resistance at $0.6008 on the 4-hour chart of the ADA/USD pair (data source from Kraken).
  • The pair could attempt a fresh increase if the bulls remain active above the $0.560 support.

Cardano Price Reaches Key Support

In the past few days, Cardano saw a steady decline from the $0.670 resistance zone, like Bitcoin and Ethereum. ADA price declined below the $0.650 and $0.620 levels to enter a bearish zone.

It even declined below $0.580 and tested $0.560. A low is formed at $0.5592 and the price is consolidating losses. It tested the 23.6% Fib retracement level of the downward move from the $0.6701 swing high to the $0.5592 low.

ADA price is now trading below $0.620 and the 100 simple moving average (4 hours). On the upside, immediate resistance is near the $0.6010 zone. There is also a key bearish trend line forming with resistance at $0.6008 on the 4-hour chart of the ADA/USD pair.

The first resistance is near $0.6150 or the 50% Fib retracement level of the downward move from the $0.6701 swing high to the $0.5592 low. The next key resistance might be $0.6280. If there is a close above the $0.6280 resistance, the price could start a strong rally.

ADA Price Prediction

Source: ADAUSD on TradingView.com

In the stated case, the price could rise toward the $0.6550 region. Any more gains might call for a move toward $0.670.

More Losses in ADA?

If Cardano’s price fails to climb above the $0.6150 resistance level, it could continue to move down. Immediate support on the downside is near the $0.560 level.

The next major support is near the $0.520 level. A downside break below the $0.520 level could open the doors for a test of $0.50. The next major support is near the $0.4880 level.

Technical Indicators

4 hours MACD – The MACD for ADA/USD is gaining momentum in the bearish zone.

4 hours RSI (Relative Strength Index) – The RSI for ADA/USD is now below the 50 level.

Major Support Levels – $0.5600, $0.5200, and $0.4880.

Major Resistance Levels – $0.6150, $0.6280, and $0.6700.

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Panel Of Experts Reveal When The Cardano Price Will Reach $3

Panelists at global fintech company Finder have relayed a series of projections on the Cardano native token ADA. Despite the cryptocurrency’s slow growth recently, various crypto experts have predicted the price of ADA to surge to record highs soon. 

Cardano Expected To Rise Above $3 by 2030

A recent survey of panelists at Finders has revealed the future outlook for the price of ADA. According to the report, Cardano is expected to witness a significant surge between the average of $5.37 and $3.15 by the end of the decade. 

Supporting the cryptocurrency’s potential price growth, the Chief Operating Officer (COO) of Layer One X, Matiu Rudolph has predicted that the price of ADA could increase to $3.50 or higher by 2025. He has also predicted that the cryptocurrency could witness a rise to new all-time highs of $10 by 2030. 

The COO has based his predictions on Cardano’s burgeoning ecosystem and robust community of supporters. He disclosed that the cryptocurrency’s loyal community was one of its greatest assets, fostering global adoption and boosting the value of the cryptocurrency. 

Also speaking about Cardano’s future price outlook, the founder of Omnia Markets, Mitseh Shah has projected the price of ADA to surge to $2.75 by 2025. The fintech founder has given reasons for his price prediction, stating if the crypto market enters a bull run, Cardano could see its price rising to new highs. 

“If next year’s Bitcoin halving leads to a bullish crypto market Cardano could well be taken along for the ride,” Nick Ranga, senior cryptocurrency and forex analyst at ForexTraders stated. 

In a similar light, another panelist, Ruadhan O, creator of Seasonal Tokens has remained bullish on Cardano, expecting the cryptocurrency to surge to $2 by 2030. The crypto investor has disclosed that Cardano is likely to witness significant gains from Ethereum’s market share during the next crypto bull run. 

Overall, predictions regarding Cardano’s price outlook seem to depend on the market’s performance and the possibility of a bull run. At the time of writing the cryptocurrency is trading at $0.65, reflecting an increase of 3.63% over the past week, according to CoinMarketCap. 

ADA To Witness Major Price Drop

Despite the optimistic forecast from a considerable number of Finder’s panelists regarding Cardano’s price, others have expressed opposite views, highlighting Cardano’s underperformance and inability to keep up with market expectations. 

Josh Fraser, co-founder of Origin Protocol, Cardano and Joseph Raczynski, a futurist have predicted that the price of Cardano could plummet to zero by 2030 and 2025 respectively. Numerous other panelists who share similar pessimistic sentiments have revealed that Cardano’s lack of decentralized applications and failure to achieve global adoption was one of the key factors behind its foreseeable limited price growth.

Cardano price chart from Tradingview.com

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Cardano Latest Technological Updates Unveiled, Analyst Maintains Bullish Outlook on ADA

Cardano (ADA), the proof-of-stake blockchain platform, has made notable progress in technological advancements, according to Input Output Hong Kong (IOHK), the engineering firm behind the Cardano blockchain.

IOHK’s recent announcement highlights crucial improvements across various aspects of the platform, signaling further growth and development for Cardano.

Cardano Smart Contract Optimization

One significant area of improvement lies within the ledger team, which has reportedly enhanced test frameworks and data quality in the Newconstraints phase3. They achieved this by introducing constraints and new types such as Size, SizeSpec, and Sized. 

The engineering company has also noted advancements in wallets and services. The Lace team is preparing to release Lace v.1.9, which promises new features and improvements for Cardano users.

In the realm of smart contracts, the Plutus team has included a guide in the documentation, elucidating how to use AsData functionality to optimize scripts. They have also implemented a UPLC optimization pass to minimize the number of forces and delays in the script.

Mithril Team Releases Major Update

Addressing scalability, the Hydra team has restored test compatibility with all networks and reviewed and merged streaming plugins. They have rectified tutorial instructions for downloading the latest Cardano-node and resolved the observed contesters bug. 

The Mithril team has released Mithril distribution 2412.0, encompassing critical updates and enhancements. These include support for the Prometheus metrics endpoint in signer, deprecation of the snapshot command in the client CLI, full Pallas-based implementation of the chain observer, and compatibility with Cardano node v.8.9.0. 

Moreover, the team has implemented community-requested features to verify the output folder structure created by the client. They continue to investigate and address any sources of “flakiness” in the CI end-to-end test.

Notable Surge In Token Trading Volume

According to DeFiLlama data, Cardano’s total value locked (TVL) currently stands at $422 million, signifying a slight dip of $80 million following the achievement of the $500 million milestone. Cardano boasts a significant figure of $23.3 million in terms of stablecoin market capitalization.

Analyzing Token Terminal data reveals several key market indicators for Cardano. The fully diluted market cap, representing the maximum potential market value of all tokens in circulation, is estimated at $29.20 billion, reflecting a notable 4.9% increase over the past 30 days. 

Similarly, the circulating market cap, which considers only the tokens in active circulation, stands at $22.88 billion, with a 5.2% growth rate over the same period.

Long-Term Outlook Remains Bullish For ADA

Regarding price action, crypto analyst “Trend Rider” recently shared insights on ADA’s latest price action in a post on the social media platform X (formerly Twitter). 

According to the analyst, ADA’s price experienced a decline after reaching a yearly high of $0.811 on March 14. It is currently trading within the range of a parabolic red line and a rider band. 

Cardano

The parabolic red line represents a significant resistance level, while the rider band indicates a potential support region for ADA’s price. This range-bound movement suggests a period of consolidation for ADA, as the cryptocurrency takes a breather before its next significant move.

Furthermore, the analyst notes that the bullish strength of the trend has weakened over the past two weeks. This could indicate a temporary slowdown in ADA’s upward momentum, potentially leading to consolidation or sideways trading. 

However, despite this weakening bullish strength, the analyst stated that the overall trend direction remains bullish, suggesting that ADA’s long-term prospects remain positive.

Cardano

ADA is trading at $0.652, exhibiting a sideways price action in the last 24 hours. However, over the past seven days, the token has successfully recovered from previous losses and registered a gain of 5.4%.

Featured image from Shutterstock, chart from TradingView.com

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Here’s Why The Cardano Price Is Struggling Below $0.7

A plausible explanation has emerged for why the Cardano (ADA) price has dropped below the psychological price level of $0.7. The crypto token saw a sharp correction from its monthly peak of $0.8, recorded on March 14, and has since failed to recover such a height. 

Cardano Whales Responsible For Price Decline

Data from the crypto analytics platform Santiment shows that the whale transaction count ($100,000 and above) on the network has reduced since March 14. That period was when Cardano hit a high of $0.8, which suggests that ADA whales began to take profits from then and have slowly exited their positions since then. 

Crypto whales are known to have a massive impact on the market, and prices usually drop as soon as these traders begin to offload their holdings. Moreover, this wave of profit-taking isn’t peculiar only to the ADA ecosystem; these past few weeks have been marred by investors taking profits from different crypto tokens in which they were invested. 

The flagship crypto, Bitcoin, was also not spared. Investors decided to take profits after weeks of seeing BTC make a parabolic run on its way to a new all-time high (ATH) of $73,750. Meanwhile, long-term ADA holders also looked to have used the opportunity to take some profits, as data from Santiment shows that a considerable amount of dormant ADA tokens were also transacted during that period.

Specifically, March 20 was a busy day for these long-term holders as 200 million ADA tokens (which had been dormant for a year) moved on that day. 

Time For ADA To Run To $1

Like the broader crypto market, Cardano looks to be recovering from this recent wave of profit-taking, although at a slower pace. For its next leg up, there is the belief that the crypto token could finally break the $1 resistance. Crypto analyst Dan Gambardello recently predicted that ADA could rise to between $1.4 and $1.5 if it can break out from the $0.8 price range. 

ADA whales are likely to soon return to the fold with whale transctions higher than $100,00 expected to pick up soon enough. A spike in these trasaction count would suggest that these investors are taking advantage of ADA’s current decline to accumulate more of the crypto token. That is something that could contribute to a rise in ADA’s price depending on how bullish these investors are on ADA going forward. 

At the time of writing, ADA is trading at around $0.6513, down almost 4% in the last 24 hours according to data from CoinMarketCap. 

Cardano price chart from Tradingview.com

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Cardano (ADA) Eyes Explosive 2000% Bull Run, Targeting $12 And Quadrupling ATH

Cardano (ADA), currently positioned as the 9th largest cryptocurrency by market capitalization, has encountered a downward trend following the prevailing bearish sentiment in the crypto market. Bitcoin (BTC), the market leader, has led the way in price corrections for top cryptocurrencies. 

Despite ADA’s recent retracement of nearly 20% in the past week after reaching a 22-month high of $0.810 on March 14, there are indications that a potential trend reversal is on the horizon. This shift in momentum could potentially drive ADA towards reclaiming the $1 mark, which it hasn’t reached since April 2022.

Bullish Momentum Building For ADA

Crypto analyst “Trend Rider,” who shares his insights on the social media platform X (formerly Twitter), has highlighted ADA’s market shift from bearish to bullish trends. Looking at the two-week chart, key moving averages are realigning, signaling a transition to a bullish framework as indicators move from red to green. 

According to the analyst, this pattern is similar to a previous occurrence observed just before ADA embarked on a significant bull run. 

Cardano

If history repeats itself and mirrors the April 2021 bull run, where ADA rose from $0.133 to its current all-time high (ATH) of $3.168 in less than a year, posting gains of over 2000%, a similar uptrend could easily take ADA past the $1 mark. 

If another 2000% price surge materializes, it could push Cardano’s native token to reach the $12.6 level, marking a significant quadrupling of its all-time high milestone.

While the market correction continues, Trend Rider has identified crucial support lines that must be held back to maintain the bullish structure. According to the analyst, the trend support for ADA is anticipated to range between $0.45 and $0.52. 

Key Cardano Metrics Soar

Cardano has shown significant progress in key metrics, as indicated by data from Token Terminal. The figures reflect a significant increase in market capitalization, trading volume, and fees, highlighting the adoption of the Cardano blockchain ecosystem. 

According to Token Terminal data, Cardano’s fully diluted market capitalization is approximately $29.80 billion, representing strong growth over the past 30 days. This figure indicates the total value of all ADA tokens, including those not yet in circulation. 

Furthermore, the circulating market capitalization, which factors in only the tokens currently available for trading, has also experienced a notable increase, reaching around $23.35 billion. 

Cardano

Moreover, Cardano has witnessed a significant surge in trading volume over the past 30 days. The trading volume has soared to approximately $27.96 billion, reflecting an increase of 117.5%. This surge indicates heightened market activity and a growing demand for ADA tokens.

Another noteworthy aspect revealed by Token Terminal data is the substantial growth in fees generated within the Cardano network. Over the past 30 days, fees have amounted to approximately $506.07k, demonstrating a significant increase of 36.5%. 

When annualized, the fees generated by the Cardano blockchain reach an estimated $6.16 million, reflecting a notable growth rate of 5.2%. This signifies the expanding usage of the Cardano network for various transactions and applications.

Cardano

ADA is trading at $0.603, down 2.6% in the last 24 hours. 

Featured image from Shutterstock, chart from TradingView.com

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ADA Price Prediction – Here’s Why Cardano Could Pump Again Above $0.75

Cardano (ADA) is correcting gains from the $0.80 resistance zone. ADA could start a fresh increase if it stays above the $0.6880 support zone.

  • ADA price is slowly moving lower from the $0.80 zone.
  • The price is trading below $0.720 and the 100 simple moving average (4 hours).
  • There is a key bullish trend line forming with support at $0.6880 on the 4-hour chart of the ADA/USD pair (data source from Kraken).
  • The pair could attempt a fresh increase if the bulls remain active above the $0.680 support.

Cardano Price Reaches Key Support

After forming a base above the $0.580 level, Cardano started a fresh increase. ADA price was able to climb above the $0.620 and $0.680 resistance levels to move into a positive zone, like Bitcoin and Ethereum.

The bulls pushed the pair above the $0.700 resistance zone. However, the bears were active near the $0.80 resistance zone. A high was formed near $0.8097 and the price started a downside correction. There was a move below the $0.750 level.

The price declined below the 23.6% Fib retracement level of the upward wave from the $0.5754 swing low to the $0.8097 high. ADA price is now trading below $0.7250 and the 100 simple moving average (4 hours).

There is also a key bullish trend line forming with support at $0.6880 on the 4-hour chart of the ADA/USD pair. The trend line is near the 50% Fib retracement level of the upward wave from the $0.5754 swing low to the $0.8097 high.

ADA Price Prediction

Source: ADAUSD on TradingView.com

The bulls might remain active near the $0.680 support. On the upside, immediate resistance is near the $0.7220 zone. The first resistance is near $0.740. The next key resistance might be $0.800. If there is a close above the $0.800 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $0.8250 region. Any more gains might call for a move toward $0.850.

More Losses in ADA?

If Cardano’s price fails to climb above the $0.7220 resistance level, it could continue to move down. Immediate support on the downside is near the $0.6880 level.

The next major support is near the $0.680 level. A downside break below the $0.680 level could open the doors for a test of $0.6350. The next major support is near the $0.6120 level.

Technical Indicators

4 hours MACD – The MACD for ADA/USD is losing momentum in the bearish zone.

4 hours RSI (Relative Strength Index) – The RSI for ADA/USD is now below the 50 level.

Major Support Levels – $0.6880, $0.6800, and $0.6350.

Major Resistance Levels – $0.7220, $0.7400, and $0.8000.

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Cardano Ready For Breakout As Network Adoption Hits Major Milestone

Cardano is yet to venture into the $0.8 price level this year, despite most cryptocurrencies breaking past old price levels. Although the blockchain has seen some exciting developments, the price action has been a little bit behind when compared to its peers. However, Cardano continues to give investors a glimmer of hope, as activity keeps soaring to new highs. 

On-chain data shows that the active addresses on the Cardano network are spiking, with the monthly active count reaching its highest in the past year.

Monthly Cardano Active Addresses Hit One-Year High

Cardano’s active address count just hit a one-year high, signaling major network adoption and hinting at big things to come. According to data from Danogo, the active addresses in the past 30 days reached 596,915 on March 11, its highest since May 2023.

Interestingly, this number almost doubles the 279,000 active addresses recorded in September 2023, the lowest monthly active addresses in the past year. 

Active addresses are one of the few metrics to look at when measuring the adoption rate of cryptocurrencies. Notably, various metrics have shown a surge in activity on the Cardano network and its ability to process a high number of transactions.

A further look at the chart data presented by Danogo shows that the monthly active addresses reversed to start a spike at the end of February after going on a free fall in January.  

Data from Cardano Blockchain Insights tells a similar tale of increased activity, with the active daily addresses steadying above 50,000 since February 29. Active addresses in the past 24 hours were 66,970. 

A similar activity metric from IntoTheBlock shows increased activity from Cardano whales. Its large transaction metric, which measures transactions greater than $100,000, puts the number of whale transactions at 6,810 in the past 24 hours and $73.86 billion in the past seven days. For comparison, Ethereum’s large transactions stand at $63.17 billion in the same time frame. 

The supply in the top 1% has also shown a strong accumulation from whales, spiking by around 60 million ADA on March 10.

ADA To Reclaim $1?

Interestingly, ADA has more than tripled from a $0.24 price in the monthly active addresses low in September. At the time of writing, ADA is trading at $0.79, up by 42% in the past 30 days. 

ADA has been rejected at $0.8 twice this month already, but it is now on its way to retesting the price level again. If the bulls can push ADA above $0.8, this could give the cryptocurrency free rein to reach $1 for the first time since April 2022. Overall, the overall crypto market continues to retain a bullish sentiment, which could push ADA above $1 this month. 

Cardano price chart from Tradingview.com

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Cardano (ADA) Price Rally Is Far From Over, Here’s Why

Cardano (ADA) has notably trailed behind that of its contemporaries in the ongoing crypto bull run. While Bitcoin has surged to record new all-time highs, alongside a suite of other altcoins, ADA remains approximately 77% beneath its peak historical value. However, emerging technical patterns and market dynamics suggest that this trend could be poised for a reversal, with ADA potentially gearing up to narrow the gap.

Cardano Bull Flag Formation: An In-Depth Look

Central to this analysis is the bull flag pattern in the ADA/USD weekly chart. The bull flag pattern observed here is composed of two primary elements: the flagpole and the flag. The flagpole is a significant vertical ascent in price, representing a rapid increase in buying pressure. For ADA, this pole formed from mid-October till mid-December and reflects an approximate 185% surge.

Cardano ADA price

The flag, following the pole, is a period of consolidation with a downward slope, resembling a flag on a pole. For ADA, the pole developed from mid-December to early February. A subsequent breakout above the flag can often lead to a price rally proportionate to the initial pole’s height.

The Cardano price already broke out and surpassed the crucial resistance at $0.685. If ADA further follows this technical playbook, the rally is far from over. The projected target would be an 185% increase from the consolidation zone’s breakout point, placing the price close to the Fibonacci 0.382 retracement level, which is around $1.35.

Remarkably, the Cardano price must first overcome the 0.236 Fibonacci retracement level at $0.92, an area where greater selling pressure and possibly a shorter consolidation can be expected.

Golden Cross And More Bullish Arguments

The chart also teases the formation of a golden cross, a bullish signal where a shorter-term moving average (the 50-week EMA) crosses above a longer-term average (the 200-week EMA). Such crossovers can often signal a shift in momentum from bearish to bullish over the long term, and their significance is heightened on a weekly chart, which filters out short-term market noise.

Traders often view this crossover as confirmation of a trend reversal, with the potential to catalyze sustained buying activity. For ADA, this could be the final confirmation of a strong bull move.

Beyond that, the weekly chart for ADA presents a broader narrative. The Relative Strength Index (RSI) sits just above the overbought threshold at 74, which indicates strong buying momentum with more room to the upside.
The volume, though lower than during the peak periods of 2021, is consistent, suggesting a stable interest in ADA trading without the panic sell-offs seen during sharp declines.

Moreover, a series of Exponential Moving Averages (20-week, 50-week, 100-week, and 200-week) provide further context as ADA is trading above all of them. Notably, the 200-week EMA has recently acted as a very strong support for the price, indicative of long-term bullish sentiment.

The 50-week EMA is trending upward, which could solidify support levels in the intermediate term. The 100-week and 200-week EMAs are further below the current price, potentially serving as long-term support levels in case of a price retracement.

In addition, the Fibonacci retracement levels drawn from the all-time high to the low of the ADA bear market provide long-term price targets. Following the bull flag conclusion, the 0.5 level at $1.697, marking the halfway point of the previous swing high to low, could serve as a next target for the bulls. Thereafter, the 0.618 Fib at $2.04, the 0.786 Fib at $2.54 and finally the all-time high at $3.17 would be subsequent price targets.

In conclusion, while the bull flag and the impending golden cross are the stars of the show, other factors such as moving averages, RSI, and Fibonacci levels add depth to the bullish narrative for the Cardano price.

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Cardano Price About To Explode: Crypto Pundit Reveals Next Target

Dan Gambardello, the founder of Crypto Capital Venture, has provided a bullish analysis of the current price action of Cardano (ADA). The crypto analyst also dispelled the notion that ADA won’t perform well in this bull cycle, noting that the crypto token is where it is meant to be before it takes off. 

Where Cardano Is Headed

Gambardello mentioned in a video posted on his X (formerly Twitter) platform that CardanoADA could rise to $1.15 and as high as $1.50 in its next move to the upside. He made this statement while highlighting a reversal zone on the weekly chart, which was critical the last time ADA made a breakout. 

The crypto analyst claimed that the token is again at the lower end of this reversal zone, which happened before ADA broke out the last time. Meanwhile, looking at the order book, he revealed that there is historically a lot of interest and market participants at the $1.20 price level. As such, it is another area that could act as a “magnet for ADA at the upper end of the reversal zone.”

The crypto analyst also tried to allay the fears of those worried about ADA’s current price action. He stated that the token lagging while Bitcoin is hitting new all-time highs (ATHs) is “historically normal” and suggested that a move was imminent for ADA based on data from past cycles. Gambardello further asserted that “things are on pace,” so there is no need to be worried. 

An Explanation For ADA’s Current Price Action

Gambardello also elaborated on why ADA has yet to experience any parabolic move. He alluded to the 2021 bull run when Bitcoin kept hitting new highs between December 2020 and January 2021, while Cardano lept lagging during this same period and didn’t make any move until later in January 2021. 

He added that ADA was 80% from its ATH back then before it made its move and even kept declining while Bitcoin was on a surge. However, that changed all of a sudden as “ADA went crazy to the upside.” The crypto analyst went on to reaffirm his belief that ADA “does lag, but when it finally moves, it really moves very strongly.”

Gambardello had previously predicted that ADA could rise to as high as $11 in this bull cycle. Back then, he noted that the crypto token now has more robust fundamentals compared to the last bull run. 

At the time of writing, ADA is trading at around $0.73, down in the last 24 hours, according to data from CoinMarketCap. 

Cardano price chart from Tradingview.com

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Cardano On-Chain Fundamentals Point To Massive Rally, Is $10 Possible?

The Cardano network is showing bullish signs, which suggest that a price surge might be on the horizon for the ADA token. Based on price predictions made by some crypto analysts, the crypto token could rise to as high as $10 when this happens. 

Cardano Network Is Healthy 

Crypto analyst Ali Martinez highlighted in an X (formerly Twitter) post that the Cardano network appears healthy. This is based on several metrics in which the network continues to experience significant growth. This includes the notable rise in daily active ADA addresses, transaction volume, and transactions from ADA whales. 

Martinez noted that this increasing activity “signifies strong network engagement and investor interest, positive indicators for continued growth.” It further suggests that more investors are increasingly bullish on the Cardano ecosystem (specifically ADA) ahead of the next bull run.

Cardano’s growth since last year has been one of the major talking points for some time now. At the beginning of this year, Bitcoinist reported that the network had gained more adoption since last year. Notably, Cardano achieved a significant milestone in December 2023, when all its blocks were reported to have been filled. 

More recently, Bitcoinist also reported how the network has seen massive growth in new wallets. Between February 22 and 23, Cardano witnessed almost a 90% jump in wallet creation, increasing from 1,706 to 3,227. The report also noted how Cardano has a diversified investor base, with retail and large-scale investors wanting to get in on the ADA token. 

ADA To $10?

Cardano’s impressive on-chain fundamentals no doubt point to a massive rally from the ADA token. It also provides optimism that the crypto token rising to as high as $10 in the bull cycle is possible. Before now, several analysts had given their thoughts on how ADA’s price could increase exponentially when the bull market returns. 

Crypto analyst Dan Gambardello was among those who painted the most bullish picture for ADA, stating that it could rise to as high as $11. This prediction means that ADA will not only rise to the $10 mark but also surpass it. Meanwhile, crypto expert Jason Appleton (aka Crypto Crow) went as far as predicting that ADA will rise to $32 and noted that it will be one of the most altcoins when that time comes. 

Ali Martinez once offered his ADA prediction when he mentioned how ADA could rise to $7 if it mirrors a historical move from 2020. ADA hitting $7 will undoubtedly make the $10 mark more feasible. 

At the time of writing, ADA is trading at around $0.78, up over 11% in the last 24 hours, according to data from CoinMarketCap. 

Cardano price chart from Tradingview.com (ADA)

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Crypto Exchange Says Cardano Price Can Reach $165, Here’s When

Cardano (ADA) is currently riding on the back of a 14% gain in the past seven days, allowing the cryptocurrency to break past the $0.70 price level for the first time since May 2022. According to crypto exchange Changelly, Cardano is poised to continue on this price growth and break over $1, $10, and $100 in the coming years and decades.

Changelly Predicts Exponential Cardano Price Growth

Cardano is one of the biggest cryptocurrencies by market cap with a cap of over $23.5 billion. Although ADA has since retraced some of its gains earlier in the week and is now trading below $0.77, it ended February with a 35% gain amidst a wider inflow of money into the crypto market. Current fundamentals have prompted experts to forecast a continued price surge in March.

According to Changelly’s prediction, ADA will continue on this price growth to make a steadfast breakout above $0.70 and end the month at a maximum of $0.751. Notably, analysts at the exchange also looked at future price points for ADA, predicting very bullish prices.

In its prediction, the exchange noted ADA would break over $10 in 2030. With the cryptocurrency now trading at $0.66, this would mean a 1,400% growth from the current price level. Looking further into the future, Changelly expects this price growth to continue into the next decade, allowing ADA to eventually break over $165 by 2040 and end the year around $600.

How Feasible Is This Bullish Prediction?

Cardano has had its fair share of ups and downs in the past few years. Recently, the blockchain network saw a 90% jump in the creation of new wallet addresses, indicating increased network activity and interest in the network. However, the blockchain has also been subjected to negative remarks, with multiple reports hinting that Cardano’s network activity has been nothing but fabrications. Particularly, a recent report termed ADA as a dead coin.

Despite this, some holders and experts remain optimistic. For ADA to cross over $10 and $100 per coin, mainstream adoption needs to happen. As the crypto industry, which is spearheaded by Bitcoin, becomes more mainstream, Cardano is poised to benefit from greater adoption.

While $165 per ADA sounds overly optimistic now, if Cardano can achieve its ambitious goals, gain mainstream interest and adoption, and attract institutional investment from traditional investors, that price target may not be so unrealistic after all. At the same time, this isn’t impossible, as ADA has delivered over 3,000% profit for its holders in the past.

Cardano price chart from Tradingview.com

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ADA Price Prediction – Here’s Why Cardano Surge Is Far From Over

Cardano (ADA) is gaining pace above the $0.635 resistance zone. ADA is consolidating gains and might aim for more upsides above the $0.70 resistance.

  • ADA price is holding gains and facing resistance near the $0.70 zone.
  • The price is trading above $0.640 and the 100 simple moving average (4 hours).
  • There is a key bullish trend line forming with support at $0.6350 on the 4-hour chart of the ADA/USD pair (data source from Kraken).
  • The pair could attempt a fresh increase if the bulls remain active above the $0.6220 support.

Cardano Price Eyes Another Increase

After forming a base above the $0.5650 level, Cardano started a fresh increase. ADA price was able to climb above the $0.600 and $0.6220 resistance levels to move into a positive zone, like Bitcoin and Ethereum.

The bulls pushed the pair above the $0.650 resistance zone. However, the bears were active near the $0.700 resistance zone. A high was formed near $0.7084 and the price started a downside correction. There was a move below the $0.6750 level.

The price declined below the 23.6% Fib retracement level of the upward wave from the $0.5685 swing low to the $0.7084 high. ADA price is now trading above $0.640 and the 100 simple moving average (4 hours).

There is also a key bullish trend line forming with support at $0.6350 on the 4-hour chart of the ADA/USD pair. The trend line is near the 50% Fib retracement level of the upward wave from the $0.5685 swing low to the $0.7084 high.

ADA Price Prediction

Source: ADAUSD on TradingView.com

The bulls might remain active near the $0.6350 support. On the upside, immediate resistance is near the $0.6750 zone. The first resistance is near $0.692. The next key resistance might be $0.700. If there is a close above the $0.700 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $0.750 region. Any more gains might call for a move toward $0.80.

Downside Correction in ADA?

If Cardano’s price fails to climb above the $0.6750 resistance level, it could continue to move down. Immediate support on the downside is near the $0.6350 level.

The next major support is near the $0.6220 level. A downside break below the $0.6220 level could open the doors for a test of $0.600. The next major support is near the $0.5680 level.

Technical Indicators

4 hours MACD – The MACD for ADA/USD is losing momentum in the bullish zone.

4 hours RSI (Relative Strength Index) – The RSI for ADA/USD is now above the 50 level.

Major Support Levels – $0.6350, $0.6220, and $0.6000.

Major Resistance Levels – $0.6750, $0.6920, and $0.7000.