Chainlink (LINK) has experienced a significant surge in its price, which analysts are attributing to the additional acquisition of World Liberty Financial (WLFI) and the rumors of a brewing partnership with Cardano. Related Reading: Trader’s Hot Take: XRP Branded The ‘Biggest Meme Coin’ In Crypto Chainlink could be off to a good start as the crypto token was able to pull off a big run that propelled the coin from its lowest level to reach over $26 per coin. Chainlink 30% Price Surge Analysts said that Chainlink has successfully positioned itself in the blockchain landscape after breaking the slump that saw the token at its lowest level this year and gaining momentum to surpass its March 2024 high of $22.87 Data showed that the crypto token’s price skyrocketed by 40% to hit $26.85 per coin. The come-from-behind rally also pushed the market capitalization to nearly $17 billion. Meanwhile, LINK was up 30% in the last seven days, data from Coingecko shows. Market observers noted that LINK’s gains to reach $26.87 have allowed the token to get over the resistance level of $22.87, which some analysts suggested the token could be moving towards a highly bullish condition. The cup and handle pattern method showed there is a high possibility that Chainlink would reach its target of $37, which an analyst explains, “The profit target for this pattern is calculated by measuring the depth of the cup and projecting the same distance upward from the breakout point.” WLFI Acquires More Tokens One of the reasons seen by crypto analysts that drive Chainlink’s price in an upward direction is the Trump-associated WLFI which bought a significant number of tokens. According to Nansen, about $4.6 million worth of LINK tokens were acquired by WLFI, bolstering their Chainlink holdings to more than $6.6 million worth of tokens. Some analysts pointed out the possibility of the US Securities and Exchange Commission (SEC) approving a Chainlink ETF if an application is submitted, noting that Trump’s crypto policy could positively affect these tokens. Moreover, data showed that WLFI holds $179 million worth of Ethereum tokens together with other assets like USD Coin, Tether, Wrapped Bitcoin, AAVE, Ethena, and Tron. It is estimated that WLFI has a portfolio that exceeds $322 million in value. Now that we have governance moving along really well, this year I’m going to focus deeply on three big themes for Cardano: 1) Bitcoin DeFi on Cardano (Market is 4 times the size of Ethereum and Solana combined) 2) 24/7 work on scalability, including Leios 3) Making Cardano a… — Charles Hoskinson (@IOHK_Charles) January 18, 2025 Related Reading: Trump Son Drops Hints About Major World Liberty Plans After Massive Ether Buy Possible Cardano Partnership Another factor that contributed to Chainlink’s price surge is the rumor that Cardano will have a partnership deal with the token. No less than the Cardano founder, Charles Hoskinson, hinted that a potential collaboration is underway, saying they are looking to build more partnerships this year. According to Hoskinson, one of his goals this year is to make Cardano “a peninsula, not an island.” “Integrations, integrations, integrations. Already got a meeting with Chainlink on the books,” the Cardano founder said in a post. Featured image from CoinFlip.tech, chart from TradingView
The increasing popularity of XRP is generating a mix of reactions. CNBC’s Ran Neuner recently called XRP the “biggest meme coin” in the crypto space, referring to its massive fully diluted valuation (FDV) of $320 billion. Related Reading: Trump Son Drops Hints About Major World Liberty Plans After Massive Ether Buy He opined that though it’s currently touted as one of the most popular utilities, its market dynamics resemble more those of meme coins than a utility-based crypto asset. This comment raised eyebrows, especially considering XRP’s historical background as a leading player in digital payments. An Increasingly Complex Narrative Due to its rapid value growth, many people are reconsidering XRP’s position in the market. Some people think that its price trajectory and media attention are comparable to joke currencies, while others see it as a utility token with real-world applications. According to Neuner, the token’s $320 billion FDV indicates that its value is primarily derived from speculative trading rather than any practical use. Here is a list of the biggest memecoins by FDV; 1. XRP – $320bn 2. DOGE – $57bn 3 ADA – $47bn 4.TRUMP – $36bn 5.HBAR -$17bn — Ran Neuner (@cryptomanran) January 19, 2025 Meme Coins Vs Utility Tokens In the crypto space, meme coins like Dogecoin and Shiba Inu have gained fame, often based on community sentiment rather than solid use cases. A comparison of XRP to such meme coins can be seen as controversial, yet it is an interesting one to look at. For all its utility-focused narrative, XRP has a massive market cap and substntial media buzz which often overshadows practical applications. Skeptics Weigh In At the same time, prominent individuals in the business, like Raoul Pal and DaVinci Jeremie, have expressed doubts about the direction of XRP. Some people say that the coin’s popularity may not last and is likely just due to market trends rather than real growth. Even though its story is based on its usefulness, XRP’s huge market cap and broad media attention often overshadow its actual uses. Interesting that you classify ADA as a memecoin when it’s one of the few chains with peer-reviewed research, formal verification methods, and a clear roadmap to scalability. Perhaps we should distinguish between price speculation and fundamental value. — talos (@TalosAgent) January 19, 2025 Talos, a community member, found Neuner’s assertion surprising as labeling ADA a joke currency ignores its special qualities. Cardano is unique from speculative assets, he said, since it is grounded on peer-reviewed research and has a clear scalability plan. As the debate goes on, it’s evident that XRP is more than just a utility coin or simply one player in the digital asset world. It’s either a meme coin or something more serious – the debate is not over yet. But one thing is for sure: XRP is definitely on everyone’s radar now, and its market movements will still draw the interest of fans and its harshest critics. Related Reading: Bitcoin Reserve In The US: 65% Chance It Happens In 2025 The Future Of XRP In The Meme Coin Debate What happens next with XRP will depend a lot on how people feel about it in the next few months. Some people see it as a risky asset, but others keep saying that it could change the way people pay for things around the world. XRP’s price changes and general effect on the market are likely to stay a hot topic no matter what classification it gets. Featured image from LumerB/Getty Images, chart from TradingView
Cardano price started a fresh decline below the $1.050 zone. ADA is consolidating and might struggle to start a fresh increase above the $1.0250 level. ADA price started a fresh decline from the $1.150 zone. The price is trading below $1.0550 and the 100-hourly simple moving average. There is a connecting bearish trend line forming with resistance at $1.040 on the hourly chart of the ADA/USD pair (data source from Kraken). The pair could start another increase if it clears the $1.050 resistance zone. Cardano Price Faces Hurdles After struggling to stay above the $1.150 level, Cardano started a fresh decline unlike Bitcoin and Ethereum. ADA declined below the $1.050 and $1.0350 support levels. It even spiked below $1.00. A low was formed at $0.9615 and the price is now attempting to recover. There was a move above the $0.990 level. The price cleared the 23.6% Fib retracement level of the downward move from the $1.088 swing high to the $0.9615 low. Cardano price is now trading below $1.050 and the 100-hourly simple moving average. On the upside, the price might face resistance near the $1.0250 zone. It is near the 50% Fib retracement level of the downward move from the $1.088 swing high to the $0.9615 low. The first resistance is near $1.050. There is also a connecting bearish trend line forming with resistance at $1.040 on the hourly chart of the ADA/USD pair. The next key resistance might be $1.0880. If there is a close above the $1.0880 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $1.120 region. Any more gains might call for a move toward $1.1520 in the near term. Another Decline in ADA? If Cardano’s price fails to climb above the $1.050 resistance level, it could start another decline. Immediate support on the downside is near the $0.980 level. The next major support is near the $0.9650 level. A downside break below the $0.9650 level could open the doors for a test of $0.9200. The next major support is near the $0.880 level where the bulls might emerge. Technical Indicators Hourly MACD – The MACD for ADA/USD is losing momentum in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for ADA/USD is now below the 50 level. Major Support Levels – $0.980 and $0.9650. Major Resistance Levels – $1.0250 and $1.0500.
The Cardano price is targeting a bullish breakout to $6 after experiencing a bounce from its initial 43% downturn. While other cryptocurrencies like XRP and Bitcoin (BTC) recorded massive gains in this bull market, Cardano (ADA) maintained a relatively muted price last year, experiencing significant volatility. Despite this, analysts remain bullish on ADA, emphasizing its potential for a substantial price recovery and a surge to new ATHs. Cardano Price Targets $6 ATH Ali Martinez, a prominent crypto analyst on X (formerly Twitter), shared a bullish price prediction for Cardano, forecasting a massive surge to $6. The analyst compared the similarities in ADA’s current price movement to historical patterns. He shared two parallel price charts of Cardano depicting its price action from 2018 to 2021 and 2022 to 2025. Related Reading: Machine Learning Algorithm Predicts Dogecoin Price From January To December 2025 In the left chart, ADA traded within a sideways accumulation zone, highlighted by the rectangular box, before experiencing a breakout above $0.14. Following the breakout, Cardano’s price corrected by about 43.6%, a massive decline that pushed its value below the $0.1 mark. As is often seen among cryptocurrencies, Cardano’s significant price crash established a solid foundation for a notable rally. After its substantial decline, the cryptocurrency initiated a significant price rally, reaching a peak of approximately $3.08. This remarkable price surge represented a gain of over 4,095%. In the right chart, Martinez identifies a similar sideways accumulation pattern between 2022 and 2023 of this year’s bullish cycle. Following this, Cardano broke out to reach a new price high of $0.8. After this, the altcoin underwent a 42.65%, mirroring the crash in 2021. Based on the historical fractal, Martinez predicts that Cardano could soon initiate its second leg up, potentially mimicking its impressive price rally in 2021 within the next two to three weeks. As a result, the analyst has set a bullish target for Cardano at above $6, marking a significant gain of 2,220.68%. While historical patterns do not accurately predict future price movements, they can provide insights into market trends, conditions, and other factors. Martinez’s bullish prediction for the Cardano price relies on the assumption that it can repeat similar market behavior and conditions during its 2021 bull rally. Related Reading: XRP Price Rallies To ATH At $3.4, Here’s What’s Driving It And Why The Pump Will Continue Update On ADA Price Analysis As mentioned earlier, the Cardano price declined severely last year despite bullish sentiment spreading to other altcoins in the market. In the last few weeks, ADA seemed to be recovering from bearish trends, as CoinMarketCap’s data showed a price increase of 16% over the past week. Cardano also experienced notable price gains in the last month, rising by over 10%. Although its price has reclaimed its $1 mark, ADA’s momentum seems to be fading, as the cryptocurrency has pulled back, recording a decline of 4% over the last 24 hours. Featured image created with Dall.E, chart from Tradingview.com
With the bearish pressure in the cryptocurrency market dissipating, large-cap altcoins are showing good signs of recovery. Cardano, specifically, has quickly established itself as one of the best-performing assets in the crypto market in 2025. After the downside pressure over the past few weeks, the Cardano price finally reclaimed and held above the $1 mark in the past week. The question now is — what’s the next move for the ADA token? Is A 400% Rally On The Cards For ADA Price? In a recent post on social media platform X, popular crypto analyst Ali Martinez shared the next step for the Cardano price after the latest downturn. The crypto pundit revealed the price fractals that could see the ADA token move to as high as $6. Related Reading: Crypto Fear And Greed Index Barrels Toward Extreme Greed Again As Bitcoin Price Clears $101,000, Is This Good News? In technical analysis, fractals refer to recurring patterns on a price chart. Typically, the patterns provide insight into historical price movements and can be used to predict the future trajectory of a cryptocurrency. After a 44% correction, #Cardano $ADA began its second leg up during the week of February 1, 2021. Now, #ADA has already undergone a 43% correction, suggesting the next leg up could be just two to three weeks away. $6 next! pic.twitter.com/xyvwZxdOFf — Ali (@ali_charts) January 17, 2025 Martinez revealed that the price of Cardano is currently at a point similar to where it was four years ago. After breaking out of the consolidation range in late 2020, the altcoin surged to around $0.4 before February 2021. However, the ADA price hit a roadblock around $0.4, falling by more than 40% before continuing its upward trend. The price of Cardano eventually soared to above $3 — the current all-time high — in this cycle. Martinez explained that the ADA token, having just experienced an almost identical 40%, might be on the verge of a bullish breakout. The analyst said that the next move up for the altcoin could be “just two to three weeks away.” Using the historical price data, Martinez predicted that the price of Cardano could push to as high as $6, setting a new record high. This would represent an impressive 400% surge from the current price point. Cardano Price At A Glance As of this writing, the Cardano token is valued at $1.15, reflecting an almost 5% increase in the past 24 hours. According to data from CoinGecko, the ADA price is up by more than 20% in the last seven days. Related Reading: ‘Solana Season Is About To Return’ As Price Turns Key Resistance Into Support – Analyst Featured image from Solodev, chart from TradingView
Bitcoin's chance of hitting a new all-time high has increased, buoyed by expectations of the adoption of a US Bitcoin reserve.
Veteran trader Peter Brandt has suggested that Cardano (ADA) has “bottomed” and is preparing for a “grand bull market,” which has brought the cryptocurrency into the limelight. Brandt’s analysis, which carries weight in trading circles, has elicited enthusiasm among investors in ADA. Related Reading: Spot Crypto ETFs: Litecoin Likely Next In Line For SEC Nod A Sequence Of Reversals The technical basis of Brandt’s analysis is the so-called double-bottom base. This base, which has been sustained for the past year, points to a possible change from a bearish to a positive direction. ADA lately exceeded its local high of $0.81, a crucial level now used as a support zone. For traders, this is a very important sign of resilience. Brandt is of the opinion that this pattern establishes the foundation for a consistent upward trajectory. He observes that the cryptocurrency is currently consolidating above $1.10, a level that has previously served as resistance. Converting this into support could establish the beginning of substantial price increases. Alt season???? Make no doubt about it, Cardano $ADAUSD has bottomed for a grand bull market Blue check mark only so no rude trolls pic.twitter.com/Xn33Twot47 — Peter Brandt (@PeterLBrandt) January 16, 2025 Momentum Of The Present Market ADA is currently trading at $1.13, with an intraday high of $1.14 and a low of $1.03 as of January 17, 2025. Although these figures may appear modest, they are in close alignment with Brandt’s optimistic expectation. The incremental price pattern is indicative of the underlying market confidence for those who are closely monitoring the altcoin’s trajectory. The overall sentiment of the cryptocurrency market has a role as well. As talk of an “altcoin season” heats up, interest in alternative digital assets like ADA grows. This market-wide confidence frequently leads to larger price volatility for individual cryptocurrencies. This focus on support and resistance zones underscores the importance of technical analysis in understanding cryptocurrency trends. Brandt’s emphasis on these levels adds a layer of credibility to his bullish forecast. Breaking Resistance Levels Cardano’s ability to convert resistance levels into support has been a key driver in its price movement. The first step was to exceed $0.81. The next issue is keeping the price over $1.10. If this level is maintained in the coming months, ADA may set more ambitious goals. Broader Implications For ADA The recognition of the double-bottom base by Peter Brandt implies Cardano has a bright future. Given the altcoin is consolidating above important levels and the larger market is in a positive state. ADA might be preparing for a major bull run. Still, investors should exercise great caution and be informed as the state of the market is erratic. Related Reading: Expert Sees Bitcoin Dipping To $50K While Bullish Momentum Persists Cardano (ADA) Price Growth Catalyst Meanwhile, a potential catalyst for Cardano’s price ascent is the approval of exchange-traded funds by the US Securities and Exchange Commission. Polymarket traders anticipate that the SEC will give the green light to several XRP and Solana ETFs. According to analysts, billions of dollars will flow into these funds once the approval is given. Featured image from Paleothea, chart from TradingView
ADA looks ready to chase new all-time highs according to a handful of Cardano price metrics.
Cardano is at a pivotal moment, striving to hold the $1 mark as a key support level to sustain its upward momentum. The altcoin has experienced significant volatility in recent trading sessions, with a dramatic 15% drop followed by an impressive recovery of over 20% within just 24 hours. This rapid price action has brought renewed attention to ADA, as investors assess its potential for further gains. Related Reading: Solana Reclaims Key Levels Amid Market Volatility – Reclaim $210 And New Highs Are Next Top analyst Ali Martinez has shared crucial insights, revealing that whales have accumulated 100 million Cardano (ADA) in the past 48 hours. This significant buying activity by large holders underscores growing confidence in ADA’s long-term potential and its ability to maintain its bullish trajectory. Cardano’s attempts to establish stability above $1, a psychological and technical level that could act as a springboard for further rallies. Investors are closely watching this level, as holding it as support could signify a strong foundation for ADA to challenge higher resistance zones. Cardano Finds Strength To Rise After a recent sharp drop, Cardano (ADA) is showing resilience, finding the strength to rise and eyeing a push above last year’s high of $1.32. This recovery has sparked optimism among analysts and investors, many of whom are calling for a significant rally. Cardano is increasingly viewed as a strong contender to become a market leader, driven by its robust development ecosystem and expanding use cases. Top analyst Ali Martinez has shared compelling data highlighting growing interest from smart money investors. Posting on X, Martinez revealed a chart showing that whales have accumulated 100 million ADA over the past 48 hours. This substantial purchase underscores confidence among large holders that current price levels present a valuable buying opportunity, setting the stage for further upward momentum. This surge in whale activity aligns with broader expectations for Cardano to capitalize on its technological advantages and potential as a leader in the blockchain space. The cryptocurrency’s ability to attract significant capital from institutional and high-net-worth investors reinforces its potential to outperform in the coming months. Related Reading: Chainlink Weekly Chart Looks Promising – If Bulls Reclaim $30 ‘ATH Are Next’ Cardano’s next challenge will be reclaiming key resistance at $1.32. Successfully breaking this level would likely trigger a substantial rally, potentially propelling ADA into a new bullish phase. The coming days will be pivotal in determining whether Cardano can sustain this momentum and fulfill its promise of becoming a market frontrunner. ADA Bulls Eye Key Levels Cardano (ADA) is currently trading at $1 after briefly reaching $1.05 earlier in the session. The price is consolidating and seeking support at the psychologically significant $1 level. If this key support holds, the next target for ADA is $1.15, a resistance level that could open the doors to further gains. Market sentiment around ADA remains cautiously optimistic. As a result, holding the $1 mark would signal strong demand and set the stage for a potential surge as bullish momentum builds. A breakout above $1.15 could lead to an extended rally, potentially revisiting previous highs and entering a new bullish phase. However, losing the $1 support would suggest that demand is faltering. In this scenario, ADA could see a drop to its next major support level around $0.91, putting additional pressure on bulls to regain control. Related Reading: Ethereum Is Forming A 1-Hour Symmetrical Triangle – Bullish Breakout Or Deeper Correction? The coming days will be crucial for ADA as it tests its ability to sustain current levels. Therefore, traders and investors are closely watching for signs of strength or weakness that could dictate the altcoin’s short-term trajectory. Whether Cardano can maintain its footing above $1 will determine whether the recent recovery evolves into a sustained rally or another period of consolidation. Featured image from Dall-E, chart from TradingView
Bitcoin’s recovery to $100,000 is likely to be met with strong resistance, but if the bulls prevail, the next stop is near $108,300.
The Cardano price currently finds itself in a risky position, and technical analysis highlights the possibility of a significant price correction. The analysis, conducted on the 4-hour candlestick chart and shared on TradingView, points to a potential 15% decline for the Cardano price in light of a recent break below the Exponential Moving Averages (EMAs). Cardano Price […]
De Cardano koers bevindt zich nog altijd in moeilijk vaarwater. Een daling van meer dan 13% in 7 dagen tijd heeft de Cardano koers tot onder de $1 gebracht. Analisten spreken nu echter van een aankomende instapmogelijkheid. Nu Cardano kopen of welke andere crypto’s hebben potentieel? Cardano bevindt zich met een waarde van $0,98 net […]
Cardano price started a fresh decline below the $0.9550 zone. ADA is consolidating and might struggle to start a fresh increase above the $1.00 level. ADA price started a fresh decline from the $1.0350 zone. The price is trading near $0.950 and the 100-hourly simple moving average. There was a break above a short-term bearish trend line with resistance at $0.9560 on the hourly chart of the ADA/USD pair (data source from Kraken). The pair could start another increase if it clears the $1.00 resistance zone. Cardano Price Attempts Recovery Wave After struggling to stay above the $1.00 level, Cardano started a fresh decline like Bitcoin and Ethereum. ADA declined below the $0.9550 and $0.9500 support levels. It even spiked below $0.900. A low was formed at $0.8769 and the price is now attempting to recover. There was a move above the $0.9150 level. The price cleared the 23.6% Fib retracement level of the downward move from the $1.0354 swing high to the $0.8769 low. There was a break above a short-term bearish trend line with resistance at $0.9560 on the hourly chart of the ADA/USD pair. Cardano price is now trading below $0.9650 and the 100-hourly simple moving average. On the upside, the price might face resistance near the $0.9550 zone. It is near the 50% Fib retracement level of the downward move from the $1.0354 swing high to the $0.8769 low. The first resistance is near $0.9750. The next key resistance might be $1.00. If there is a close above the $1.00 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $1.050 region. Any more gains might call for a move toward $1.120 in the near term. Another Decline in ADA? If Cardano’s price fails to climb above the $0.9550 resistance level, it could start another decline. Immediate support on the downside is near the $0.9320 level. The next major support is near the $0.9150 level. A downside break below the $0.9150 level could open the doors for a test of $0.900. The next major support is near the $0.880 level where the bulls might emerge. Technical Indicators Hourly MACD – The MACD for ADA/USD is gaining momentum in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for ADA/USD is now above the 50 level. Major Support Levels – $0.9150 and $0.9000. Major Resistance Levels – $0.9750 and $1.0000.
Bitcoin’s fall below $90,000 is a negative sign, but the bulls are expected to vigorously defend the $85,000 level.
In a recent series of exchanges on X, Input Output Global (IOG) CEO and Cardano founder Charles Hoskinson addressed allegations surrounding the Cardano Foundation’s (CF) approach to stablecoin integrations, while also signaling fresh possibilities with Ripple’s RLUSD. The conversation drew attention to unresolved tensions between Hoskinson, the CF, and various members of the community, as […]
The altcoin market was on a red-hot streak the previous week, with large-cap assets like Cardano, Solana, and Dogecoin posting double-digit profits. However, the past week’s action has been a brutal opposite of the one preceding it, with the Cardano price declining recently by as much as it gained in the previous week. However, the cryptocurrency seems to be recovering nicely, with the ADA price now stabilizing above the $0.9 mark. The question, though, is — how soon could the Cardano price return above the psychological $1 level? Here’s How ADA Price Could Reclaim $1 Ali Martinez, a top crypto analyst on the social media platform X, has shared an exciting analysis of the price of Cardano in the short term. According to the popular pundit, the altcoin’s value could return to above the $1 mark over the next few days. Related Reading: Bitcoin Price Unravels 157-Day Fractal Similar To Last Cycle, Why A Surge To $169,000 Is Possible The rationale behind this bullish projection is the formation of a bull pennant pattern on the one-hour price chart. A bull pennant is a pattern used in technical analysis marked by a price jump (the flagpole) before a consolidation range with converging trend lines (the pennant), which is followed by a price breakout in the same direction as the initial flagpole. Typically, the bull pennant pattern serves as a continuation indicator, signaling the persistence of a price trend (usually the upward trend). The price target from the chart formation is derived by measuring and replicating the length of the initial flagpole at the end of the end of the consolidation range. As shown in the chart above, if the price of ADA successfully breaks out of the bull pennant formation, the altcoin could visit above the $1 mark again. This represents an impressive 10% surge from the current price point. Crossing above the $1 mark again might be the spark that the Cardano token needs to conjure a rally that would see it return to its all-time high price. As revealed in a recent article, recent historical patterns point to a potential rally to a new record-high price for the altcoin. Cardano Price At A Glance As of this writing, the price of ADA stands at around $0.9266, reflecting an almost 2% increase in the past day. However, this positive single-day performance did little to relieve the bleeding the altcoin has suffered in the past week. According to data from CoinGecko, the Cardano price is down by over 15% in the last seven days. Related Reading: SUI Defies Odds With A Sharp Rebound Above $4.9: New Highs Loom? Featured image from iStock, chart from TradingView
Bitcoin’s bounce above $94,000 suggests that the bulls remain buyers on dips, increasing the possibility of a retest of $100,000.
In his latest livestream titled “Cargo Cults and the Reality of Crypto,” Cardano founder Charles Hoskinson delivered an extensive monologue on what he perceives as the current state of digital assets, community behavior, and ongoing legal battles in the sector. The discussion delved into industry history, the fate of long-forgotten projects, and the sometimes-troubling culture […]
In a newly released video titled “The next steps for Hydra,” Cardano founder Charles Hoskinson outlined the trajectory of the Hydra scaling solution and provided insights into how independent companies will soon spearhead fresh developments in the ecosystem. The announcement comes shortly before the Hydra Doom initiative’s official conclusion, which will be marked by a […]
Bitcoin’s sell-off shows no signs of forming a bottom, which is destroying traders’ appetite for altcoins.
Cardano (ADA) started the year recovering the key $1 support zone, which has propelled its price to weekly highs. The bullish momentum has attracted whales, while some crypto analysts believe that ADA’s rally is around the corner. Related Reading: Crypto Trader Makes $21 Million From AI Agent Token As Sectors Faces Backlash Cardano Whales Fill Their Bags In November, Cardano surged to the $1 mark for the first time in over two years, leading the crypto market after the post-election rally. However, the cryptocurrency faced one of its largest one-day retraces amid the December corrections, losing key support and dropping below $0.8. Cardano whales took advantage of the end-of-year pullback, acquiring 160 million ADA at a discount. Despite large investors betting on ADA, some market watchers pointed out that market sentiment surrounding the cryptocurrency had turned bearish. However, ADA has experienced the New Year rally, increasing 27% in the past week, fueled by the market’s recovery and Bitcoin’s jump to the $100,000 mark. Cardano surged from its $0.84-$0.90 price range as the new year started, reclaiming the $1 mark by January 3. Since then, the cryptocurrency has moved within the $1.05-$1.11 range, recovering its levels before the December corrections. Crypto analyst Ali Martinez noted that Cardano whales have been loading their bag again, with over 10 million ADA in the last 24 hours, potentially signaling strong sentiment from large-scale investors on the cryptocurrency. Similarly, whales bought over 40 million ADA in 48 hours as Cardano’s price surged past $1. ADA Attempts Breakout As Bitcoin (BTC) held above $100,000 again, ADA’s price attempted to break from a short-term bullish pattern. According to Cardano trader Sebastian, the cryptocurrency tried breaking out of a bullish pennant after hitting the $1.15 resistance level on Tuesday morning. Moreover, Sebastian noted that ADA was “trying to flip a very important resistance area into support on the ADA/BTC chart.” Per the chart, this horizontal level was a key resistance level that led to the early 2024 highs after being turned into support. “A breakout to the upside from here could really send ADA to the bull market doors,” the investor noted. Crypto analyst Dan Gambardello, founder of Crypto Capital Venture, shared a bullish outlook for Cardano’s future price action after Grayscale added the cryptocurrency to its Digital Large Cap Fund (GDLC). As reported by NewsBTC, Grayscale liquidated all its ADA holdings from GDLC in April, which accounted for 1.62% of the fund’s portfolio. This move saw Cardano’s price drop by 12% and received heavy criticism for its “lacking” performance. After yesterday’s news, Gambardello claimed that “the ADA wave is coming.” Related Reading: Shiba Inu Builds Momentum: ‘Monster’ Price Move Coming—Analyst Nonetheless, Cardano’s rally has been momentarily halted as BTC’s latest price drop dragged ADA and the rest of the market down. Bitcoin just saw a sharp 4% drop to the $97,000 support zone, sending ADA 8% down. The cryptocurrency dipped from the $1.11 mark to the $1.02 range before recovering. Despite the drop, Cardano remains above the key support zone and above December correction levels, showing green numbers in most mid and long-term timeframes. As of this writing, ADA is trading at $1.03, a 5.8% decrease in the last 24 hours. Featured Image from Unsplash.com, Chart from TradingView.com
As the cryptocurrency market experiences a notable resurgence, Bitcoin (BTC) continues to lead the charge, while altcoins—especially Cardano (ADA)—are making significant gains. Altcoins Market On The Cusp Of Change: Will Bullish Momentum Prevail? Market expert Patrick H recently shared insights on social media, stating, “The altcoins market is attempting to build a new bullish structure. Are we heading for higher levels, or is another rejection more likely?” This query shared among market players signifies the careful optimism present in the altcoin realm as it contemplates the possibilities of a trend reversal. Related Reading: XRP Eyes $11 Breakout, But A Correction Might Come First—Analyst On this matter, the expert unveiled in a recent analysis that the daily chart of the total altcoin market cap (excluding the top 10 cryptocurrencies) reveals important developments. After enduring a prolonged bearish phase characterized by a descending channel—marked by lower highs (LH) and lower lows (LL)—the market appears to be on the verge of a significant shift. In addition, recent activity indicates a breakout from this descending channel, suggesting that bearish momentum may be waning. Importantly, a higher low (HL) has formed around the $330 billion mark, establishing a critical support level, serving as the first indication of a possible bullish shift in the market’s trajectory. Currently, the altcoin market is facing resistance at the $375 billion level, where it is consolidating following the breakout. For a full confirmation of a bullish market structure shift, the market must achieve a clear higher high (HH) at approximately $400 billion. Successfully breaking this level would solidify the reversal and could lead to a rally targeting $600 billion as the next local stop. Conversely, if the market experiences a failed breakout—failing to reclaim the $400 billion mark and subsequently reversing—investors should closely monitor key support levels at $330 billion and $317 billion. A retest of the descending channel breakout could occur, and a breakdown below $317 billion would invalidate the bullish setup, signaling a potential return to the downtrend. Can Cardano Continue Its Impressive Price Climb? Over the past week, Cardano has emerged as a standout performer, experiencing a substantial price increase of 31%. This surge has enabled the ninth-largest cryptocurrency by market capitalization to regain the critical $1.11 level. In stark contrast, Bitcoin (BTC), the leading cryptocurrency, recently achieved a new all-time high of $108,000. Despite this, Cardano’s current price remains over 64% below its all-time high of $3.09, which was reached in September 2021. However, with the bullish scenarios outlined by market expert Patrick H. indicating a potential rally in the altcoin market in the coming months, Cardano and other altcoins may continue to experience upward price momentum. Related Reading: XRP Price Sets Bullish Flag Continuation On The Daily Chart, Next Stop $10? All around, the altcoins market stands at a crucial juncture. The recent breakout and formation of a higher low are promising signs, yet the path forward remains uncertain. A successful push above the $400 billion threshold is essential to confirm a bullish reversal and unlock further upside potential. Featured image from DALL-E, chart from TradingView.com
Cardano price started a fresh surge above the $1.00 zone. ADA is consolidating and might aim for a fresh increase above the $1.1150 level. ADA price started a downside correction from the $1.1150 zone. The price is trading above $1.00 and the 100-hourly simple moving average. There is a short-term rising channel forming with support at $1.075 on the hourly chart of the ADA/USD pair (data source from Kraken). The pair could start another increase if it clears the $1.1150 resistance zone. Cardano Price Starts Fresh Surge After forming a base above the $0.80 level, Cardano started a fresh increase, beating Bitcoin and Ethereum. ADA surged above the $0.90 and $1.00 levels. The bulls even pushed the price above $1.120. A high was formed at $1.1156 and the price is now consolidating gains. There was a minor decline below $1.1120, but the price remained above the 23.6% Fib retracement level of the upward move from the $0.8373 swing low to the $1.1156 high. Cardano price is now trading above $1.00 and the 100-hourly simple moving average. There is also a short-term rising channel forming with support at $1.075 on the hourly chart of the ADA/USD pair. On the upside, the price might face resistance near the $1.10 zone. The first resistance is near $1.1120. The next key resistance might be $1.1150. If there is a close above the $1.1150 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $1.20 region. Any more gains might call for a move toward $1.250 in the near term. Downside Correction in ADA? If Cardano’s price fails to climb above the $1.1120 resistance level, it could start another decline. Immediate support on the downside is near the $1.080 level. The next major support is near the $1.050 level. A downside break below the $1.050 level could open the doors for a test of $0.975 or the 50% Fib retracement level of the upward move from the $0.8373 swing low to the $1.1156 high. The next major support is near the $0.950 level where the bulls might emerge. Technical Indicators Hourly MACD – The MACD for ADA/USD is gaining momentum in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for ADA/USD is now above the 50 level. Major Support Levels – $1.0800 and $1.050. Major Resistance Levels – $1.1120 and $1.1150.
Sustained buying by institutional investors pushed Bitcoin above $100,000, opening the doors for a retest of the all-time high.
The Cardano price has been in red-hot form over the past few days, making a highly anticipated return to above $1 on Friday. This recent bullish momentum made ADA the best-performing asset among the top 10 largest cryptocurrencies in the past week. While this burst of positive price action could be linked to the improving climate of the altcoin market, it appears that the increased activity of large holders (whales) is responsible for the latest price surge. Here’s how much the ADA whales bought in recent days. Cardano Whales Purchase 40 Million ADA In 2 Days Prominent crypto analyst Ali Martinez revealed in a new post on the X platform that the Cardano whales have become increasingly active in the market over the last few days. This on-chain observation is based on the increase in the holdings of investors who own between 10 million and 100 million coins. Related Reading: Analyst Says Dogecoin Price Can Break To $0.48, But This Needs To Happen First The investor cohort under review is a class of whales, which refers to entities that wield significant influence over the market due to the amount of cryptocurrencies they own. Many investors pay attention to this class of large holders, as the market often reacts to their movement. According to data from Santiment, Cardano whales acquired more than 40 million ADA tokens (worth about $42.8 million at the current market value) in 48 hours. This level of buying activity highlights the strong faith in the asset’s promise despite the sluggish market climate. As seen with the price action over the past few days, increased whale activity can have a positive impact on the price of Cardano. Hence, sustained buying activity could see the altcoin’s price to its highs of early December 2024. What Next For Cardano Price? As of this writing, the Cardano price sits just above the $1 mark, reflecting a nearly 2% decline in the past 24 hours. However, this negative performance has barely impacted the altcoin’s weekly gain, which currently stands at around 26%. In another post on X, Martinez revealed that the Cardano price is playing out like it did in the previous cycle. During the last bull cycle, the ADA token grew exponentially in less than a year, reaching the current all-time high price of $3.09. Related Reading: XRP Price Prediction To $4.9: How The 1-Day 50 MA Will Drive The Next Wave The analyst believes that if the altcoin follows the recent historical pattern, a move to $4 could be imminent. However, from the highlighted chart, the Cardano price might travel as high as $6 before hitting a major roadblock. Featured image from Solodev, chart from TradingView
In a notable show of strength amid an otherwise subdued market, Cardano (ADA) has climbed above the psychologically significant $1 mark today, January 3. Over the past 24 hours, ADA has surged by more than 11%, outpacing the mostly flat performances of other top cryptocurrencies, including Bitcoin. Within the top 100 assets by market capitalization, only Murad-memecoin SPX6900 (SPX) has registered a higher 24-hour gain, rising 30%. Over the last seven days, ADA is up approximately 20%. Although the jump appears to have come without any immediate catalyst, Cardano’s roadmap is poised for several notable protocol enhancements in the coming months. Among them are a Bitcoin-centric decentralized financial ecosystem and ongoing initiatives aimed at improving Cardano’s scalability, decentralization, and interoperability with other networks. Related Reading: Cardano Holds Crucial Support At $0.77 – Massive Rally Ahead? These fundamentals suggest that the current price action may be underpinned by broader optimism about the network’s evolution, although technical factors seem to be the primary driver. “ADA pushing through resistance like its butter. This momentum is truly explosive. Pay attention to key resistance levels, this one wants to go higher,” crypto analyst Satoshi Stacker (@StackerSatoshi) stated via X. Cardano Price Analysis On January 1, ADA/USDT decisively broke out of a multi-week downward trendline that originated at the December 2 high near $1.32. This trendline had been tested repeatedly until late December, before finally succumbing to strong bullish momentum. Following the initial breakout, ADA briefly retreated to around $0.87, only to bounce back in a textbook retest that validated the trendline breach. Supporting the bullish narrative, Fibonacci retracement levels anchored at the December 2 high ($1.32) and December 20 low ($0.76) reveal a constructive technical backdrop. The 0.236 Fib at $0.89 served as a launching pad once the trendline break was confirmed, while the 0.382 Fib ($0.97) initially rejected prices on January 2, before later giving way to further upside. Related Reading: On-Chain Metrics Reveal Cardano Whales Are ‘Buying The Dip’ – Details Subsequently, ADA surpassed the 0.50 Fib ($1.04), and this level may now act as immediate support on any minor pullbacks. The 0.618 Fib ($1.11) is the next key hurdle if bullish momentum persists, with the 0.786 Fib ($1.20) and the 1.0 Fib ($1.3282) potentially coming into play if the rally extends into the near-to-mid term. From a moving averages perspective, ADA has climbed above its 20, 50, 100, and 200 exponential moving averages on the four-hour chart. Notably, the 20 and 50 EMAs have crossed above their 100 and 200 counterparts, which indicates momentum has shifted in favor of the bulls. The volume picture further supports the breakout scenario, with 24-hour trading volume up 14.94% to $1.67 billion. A look at the Relative Strength Index (RSI) on the four-hour timeframe shows a reading of around 80, placing ADA firmly in overbought territory. This demonstrates solid buying pressure but also suggests a possibility of a short-term pullback should traders opt to take profits. Featured image from Shutterstock, chart from TradingView.com
Bitcoin price looks on track to reclaim the $100,000 level. Are altcoins set to follow?
Cardano (ADA) has surged past the 100-day Simple Moving Average (SMA), marking a pivotal moment in its price action and reigniting bullish optimism in the market. This critical breakout signals a shift in momentum as ADA eyes higher targets, with the $1.26 mark firmly in focus. ADA’s move above this key technical indicator reflects strengthening buyer interest and positions Cardano for a potential rally in the coming days. Typically, the breakout above the 100-day SMA often catalyzes sustained upward movement, drawing more buyers into the market. However, challenges remain, with resistance levels looming that could test the bulls’ resolve. Will this rally gain enough momentum to hit the $1.26 milestone, or will the bears mount a counterattack? The coming sessions promise to be decisive for Cardano, as its ability to capitalize on this breakout will determine the next move. Breaking Through The 100-Day SMA: What It Means For Cardano Cardano’s rise above the 100-day SMA is a pivotal moment in its price journey, signaling renewed strength in the cryptocurrency’s uptrend. The 100-day SMA usually acts as a key technical barrier, and breaking above it highlights growing buying interest and a potential shift in market dynamics. Related Reading: Cardano (ADA) Struggles to Hold Ground: Another Drop Incoming? This breakout is a promising sign for bulls as it opens the door for further price advances. With the $1.26 resistance level now in focus, the breakout sets the stage for a rally that could solidify the token’s bullish outlook. A move toward this target would reinforce confidence among market participants and indicate that Cardano is reclaiming its position as a strong contender in the market. Despite this positive development, the bulls must remain vigilant. Resistance zones above the current price may test the sustainability of this rally, and broader market conditions will also play a crucial role in determining ADA’s next move. Breaking through the 100-day SMA is an encouraging milestone, but maintaining this upward trajectory will be essential for a long-term trend reversal. Technical Indicators Signal Strength In ADA’s Uptrend Furthermore, the current position of the Relative Strength Index (RSI) indicator suggests that ADA’s price momentum could remain strong for more upside movement. The RSI has risen to 78%, indicating a robust bullish sentiment in the market. This elevated RSI level reflects sustained buying pressure and highlights that the bulls are firmly in control. Related Reading: Cardano (ADA) Uptrend Faces Hurdles: Will Bulls Break the Barrier? Moreover, the RSI shows no immediate signs of reversal or decline, implying that the ongoing momentum may continue to push the price higher. Such a high RSI level often signals that the asset is nearing overbought conditions. However, it can also indicate strong market confidence when supported by broader optimistic trends. If this momentum holds, ADA could significantly advance toward the $1.26 resistance level, solidifying its upward trajectory. Meanwhile, caution is necessary as unexpected changes in market sentiment or external influences might lead to a pullback, possibly driving the price back to the $0.9097 support level for a retest. Featured image from Unsplash, chart from Tradingview.com
Bitcoin is holding above $90,000, signaling the possibility of a move back toward $100,000 in the next few days.
Bitcoin needs to find support in the $90,000 to $85,000 range in order for altcoins to recover and find new buyers.