Is Cardano (ADA) Preparing To Go Back Above A Dollar?
Cardano (ADA) is looking to break out from its key resistance at $0.74 to $0.88, showing a potential climb to $1 in the long-term trend. The appearance of a golden cross this month reinforced the...
- Cardano (ADA) is looking to break out from its key resistance at $0.74 to $0.88, showing a potential climb to $1 in the long-term trend.
- The appearance of a golden cross this month reinforced the token’s bullish move.
- An update in a major index also elevated Cardano to the top of the crypto community sentiment rankings.
Ali Martinez, a popular cryptocurrency analyst on X, just revealed potentially optimistic news in the Cardano (ADA) ecosystem. According to his latest technical reading, the token is currently cruising within a symmetrical descending channel in the three-day range.
While the pattern signifies a bearish trajectory for the digital asset, it could bring about a dramatic surge in Cardano’s price if it manages to breach the resistance level it holds at $0.74. Once it breaks out from that boundary, it could pave the way for the token’s rise to $0.88.
Cardano’s Major Recovery
In April, Cardano considerably recovered from a $0.51 dip after exhausting all its momentum in December when it achieved a two-year high of $1.31. In the last 24 hours heading to Tuesday morning, it continued its push toward a $0.72 top. This represented around a 41% spike between the said periods.
If the token realizes Martinez’s prediction, it could signal a 22% rally from this month’s top. Barring any negative news impacting the broader crypto sector, a sustained climb could take ADA back to a dollar.
However, the numbers remain far from Cardano’s all-time high of $3.10 four years ago.
Golden Cross Surfaces
The latest developments coincide with the emergence of a golden cross on Cardano’s 4-hour chart last week. Along the way, the token’s 50-day moving average (MA) intersected with the 200-day MA within the range.
This came following a death cross, showing the opposite trend, in mid-March during the heightened uncertainty in the market amid the USA’s tariff wars with various nations, particularly with China.
Cardano Community Sentiment
The events also coincide with ADA’s rise in Community Sentiment based on CoinMarketCap data. According to Charles Hoskinson, Cardano’s founder, the aggregator has officially removed the bots from its rankings to reflect only real and organic support.
— TapTools (@TapTools) April 28, 2025BREAKING:
CoinMarketCap has officially removed bots from its community sentiment rankings.
Cardano is now ranked #1 among the top 10 tokens by real, organic community support. pic.twitter.com/GRn8V9FSK1
As a result, the token has led the rankings among the top 10 cryptos by market cap after the update. After all, as one commenter has pointed out, Cardano was the original case study in building an ecosystem from the roots up, with key consideration to community support.
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Giancarlo is an economist by profession with a career spanning nearly two decades. His professional journey has seen him assume vital roles in various government and private organizations such as the Department of the Interior and Local Government (DILG), the National Economic and Development Authority (NEDA), Megaworld Corporation, and the China Banking Corporation in the Republic of the Philippines. In addition to his civic and corporate pursuits, his forward-thinking approach has led him to manage several prominent websites in the banking and finance sector, notably the Australia-based RateChoice, where he immersed himself in the world of emerging financial technologies and where he found particular interest in Bitcoin all the way back to 2013. Prior to his addition to Blockzeit’s dynamic team, he held an essential role as Project Manager for initiatives encompassing blockchain, stablecoin, mining, special economic zone development, and iGaming. This noteworthy chapter in his career unfolded under the auspices of InPlan Consultancy Services, Inc., the think-tank of IMPERO Consortium Management Corporation headquartered in Manila, Philippines, and Tokyo, Japan. InPlan, led by a distinguished retired Cabinet member of the Philippines, collaborates directly with IMPERO's core management team, contributing to strategic planning and business development endeavors.
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