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Cardano Bulls Eye $10 Target – Analyst Reveals Key Levels To Break

Published

7 days ago

March 9, 2025

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Cardano (ADA) has been caught in massive volatility and extreme price swings, making it one of the most unpredictable assets in the crypto market. Following US President Donald Trump’s announcement of a US Strategic Crypto Reserve, which included Cardano, ADA’s price skyrocketed over 80% in less than a day, fueling speculation about its long-term role in institutional adoption.

However, the excitement was short-lived, as negative macroeconomic sentiment and fears surrounding global trade wars triggered a sharp 35% decline within just two days. As uncertainty grips the financial markets, traders remain cautious about whether ADA can regain momentum or if more downside is ahead.

Despite the recent sell-off, top analyst Ali Martinez shared a technical analysis suggesting that Cardano remains positioned for a potential surge toward $10. According to his insights, bulls must reclaim key technical levels for a strong recovery, with ADA still showing bullish potential despite short-term weakness.

With Cardano’s price action at a critical point, the coming days will be crucial in determining its next move. If bulls can stabilize ADA above key support, the potential for another explosive rally remains on the table.

Cardano Could Start A Massive Move

Cardano (ADA) has been overperforming compared to the broader crypto market over the past week, showing relative strength despite ongoing volatility. However, price action remains confined within a range that first began forming in November 2024, preventing a clear breakout in either direction.

If bulls can hold the current levels, ADA could soon attempt a push above multi-year highs, setting the stage for a significant bullish move. However, analysts remain cautious as prices are still low, and investor sentiment remains fearful amid macroeconomic uncertainty and trade war tensions. Many traders are waiting for confirmation of a breakout, as momentum has yet to fully shift in favor of the bulls.

Martinez’s technical analysis on X reveals that Cardano is still positioned for a potential surge toward $10. According to Martinez, for this bullish scenario to unfold, ADA must maintain support above $0.80 while successfully breaking through the key $1.20 resistance level. These price points serve as crucial pivot zones, and their validation or failure will likely determine Cardano’s short-term trend.

Cardano prepares for a potential push | Source: Ali Martinez on X

The next trading sessions will be crucial, as a break above $1.20 could trigger a strong upward move, while failure to hold above $0.80 could lead to further downside risk. With ADA currently at a pivotal moment, traders are closely monitoring price action to gauge whether bulls can regain control or if continued consolidation is ahead.

Price Action Details: Technical Analysis

Cardano (ADA) is currently trading at $0.80 after failing to hold above the key $1 level. Despite recent strong performance compared to the broader market, ADA has struggled to maintain bullish momentum, leaving traders uncertain about its next move.

ADA holding crucial support | Source: ADAUSDT chart on TradingView

For bulls to regain control, ADA must reclaim the $1 mark and push above the critical $1.17 resistance level. A break and hold above this zone could trigger a massive rally, potentially sending Cardano to multi-year highs. Such a move would signal renewed buying interest, boosting confidence among investors and traders who are watching ADA’s long-term potential.

However, failure to break above $1 and hold the crucial $0.80 support level could expose Cardano to further downside risk. A breakdown below $0.80 would likely send ADA into lower demand zones, extending its consolidation phase and delaying any significant recovery.

Featured image from Dall-E, chart from TradingView

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CZ Weighs In On Altcoins Performance As Crypto Market Retraces

Published

1 week ago

March 8, 2025

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Este artículo también está disponible en español.

Binance co-founder Changpeng Zhao has suggested that the highly anticipated Altseason isn’t here yet as most altcoins continue bleeding, while some market watchers consider the worst might be over soon.

CZ Says There’s No Altseason Yet

On Friday, Changpeng Zhao, also known as CZ, responded to an X user asking when the Altseason will happen. The Binance founder pointed out the price tracking and market data website CoinMarketCap (CMC), which recently added an “Altcoin Season Index.”

CZ highlighted that “of the top 100 altcoins,” very few have outperformed Bitcoin (BTC) in the past three months, suggesting that the Altseason won’t happen yet.

As the website states, the CMC Altcoin Season Index page “provides real-time insights into whether the cryptocurrency market is currently in Altcoin Season,” based on the performance of the top 100 altcoins against the flagship crypto over the past 90 days.

Under this metric, an Altseason is in if 75% of the top 100 altcoins outperform BTC during the established period. To CZ, “This is a tough ranking system,” as he considers that 50 would be a good score for Altcoins.

The CMC index page shows a score of 14/100, with only 14 altcoins outperforming BTC since early December. Some of the tokens in this list include Monero (XRM), Hyperliquid (HYPE), Pi (PI), Mantra (OM), Berachain (BERA), and the official Trump memecoin (TRUMP).

Leading cryptocurrencies of 2024, like SUI and Solana (SOL), show 37% to 41% price decreases in the past 90 days. Meanwhile, memecoin sensations like dogwifhat (WIF), PEPE, FLOKI, and BONK have bled between 70% and 80% during this period.

Analyst Michaël van de Poppe also noted that altcoins have had an overall negative performance on higher timeframes despite some recent price rallies. “Massive green day on some Altcoins, they are up 2%! Then, you zoom out, and you zoom out, and you zoom out,” he asserted.

Altcoins Bottom Could Be Near

Altcoin Sherpa stated that altcoins were in “about the same or worse” positions during the Summer 2024 retrace, pointing out that “things were also pretty bleak overall and then we saw some strong bounces in August.” However, he noted that, unlike last year, the market doesn’t have a “Trump Pump coming.”

Recently, some of the top cryptocurrencies saw a significant price increase after US President Donald Trump announced a strategic reserve that would include SOL, XRP, Cardano (ADA), Ethereum (ETH), and BTC.

Nonetheless, after the March 6 executive order establishing a Strategic Bitcoin Reserve and a “Digital Asset Stockpile,” the White House AI and Crypto Czar, David Sacks, clarified that the previously named altcoins were used as references for the most valuable tokens in the market.

Sherpa considers that the market’s bottom is close, but “we still also probably have the chop period to get through” before any substantial recovery.

On the contrary, some industry figures have also commented on altcoins’ overall performance this cycle, suggesting that the Altseason already started but will be different from previous cycles.

Recently, CryptoQuant’s founder and CEO, Ki Young Ju, stated that the Altseason had begun. He affirmed there will not be a direct Bitcoin-to-altcoins rotation this cycle, as BTC dominance isn’t the key metric that defines it.

To the CEO, trading volume is the metric that defines it this time. Ju also pointed out that this will be a very selective and challenging altseason, with only a few altcoins with strong narratives expected to thrive.

altcoins, TOTAL2 — Total cryptocurrency market capitalization, excluding BTC, is at $1.1 trillion. Source: TOTAL2 on Tradingview

Featured Image from Unsplash.com, Chart from TradingView.com

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Crypto Whales Gobble Up $2,510,550,217 in XRP and Cardano (ADA) in Just a Day, According to Analyst

Published

2 weeks ago

March 5, 2025

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A closely followed analyst says deep-pocketed investors are heavily loading up on two large-cap altcoins as the crypto market witnesses an abrupt spike in volatility.

Trader Ali Martinez tells his 129,500 followers on the social media platform X that crypto whales snapped up about $2.16 billion worth of the payments altcoin XRP in just one day.

“Whales bought nearly one billion XRP in [24 hours!]”

At time of writing, XRP is trading for $2.41.

Turning to the layer-1 protocol Cardano, the trader unveils that deep-pocketed investors accumulated over $345 million worth of ADA over the same time period.

“The largest whales on the Cardano ADA network have bought 420 million ADA in [24 hours!]”

All in all, crypto whales pocketed $2.51 billion worth of XRP and ADA in just a day.

At time of writing, ADA is trading for $0.86.

Turning to the charts, Martinez warns that XRP appears to be flashing a head-and-shoulders pattern, a bearish reversal structure that may indicate the uptrend is over once the asset moves below the pattern’s neckline.

“XRP could invalidate this head-and-shoulders pattern with a daily close above $3, potentially paving the way for a rally to $5!”

Based on the trader’s chart, he seems to predict that XRP will plummet to $1.20 if it breaches the pattern’s neckline at $2.

As for Cardano, the crypto strategist says he sees ADA igniting rallies if it takes out a key resistance area.

“Cardano ADA could be poised for a rally to $2.20! Watch for a 12-hour candlestick close above $1.19 to confirm the bullish breakout.”

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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XRP, SOL, ADA’s Coinbase Premium Surges to One-Month High After Trump’s Crypto Reserve News

Published

2 weeks ago

March 2, 2025

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U.S. President Donald Trump on Sunday said that bitcoin (BTC), ether (ETH), XRP, solana (SOL) and cardano (ADA) could comprise the promised strategic crypto reserve, sparking a sharp rally in these tokens’ prices.

The spot-led rally saw these tokens trade at a substantial premium on the Nasdaq-listed Coinbase exchange, a proxy for the U.S. demand, compared to the offshore giant Binance, according to data source TradingView.

Coinbase premium: ADA, SOL and XRP. (TradingView/CoinDesk)

The so-called Coinbase premium for XRP, SOL, and ADA surged to the highest level since Feb. 3. BTC and ETH traded at slightly higher prices on Coinbase than Binance.

Since early last year, Coinbase premium has been a feature of price rallies, validating the bull runs.
Read more: Bitcoin Jumps Above $91K After Trump’s U.S. Crypto Reserve News Brings Bulls Back

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