TLDR:
- Cardano (ADA) currently trading at $0.82, showing 15% recovery from recent $0.68 low
- ETF decision deadline set for March 27, 2025, amid increased whale token movements
- Technical analysis suggests possible range formation between $0.68-$0.81
- Partnership announced with Globant, a $10 billion publicly traded company
- Daily Active Addresses show declining network participation despite price increases
Cardano (ADA) has experienced a series of price movements in recent weeks, currently trading at $0.82 after recovering from a low of $0.68. The cryptocurrency has shown a 15% rebound in the past week, marking a recovery phase after a sharp decline from its January high of $1.15.
ADA Price
The market awaits a key decision on the Cardano spot ETF, with the deadline set for March 27, 2025. This comes as whale token movements have increased, raising questions about whether large holders are accumulating or distributing their assets.
Recent price action shows ADA breaking above a bearish trendline at $0.77, accompanied by higher trading volume. The token now trades above its 100-hourly moving average, typically considered a bullish indicator by market analysts.
Technical Analysis
Technical analysis reveals three high-volume nodes at $0.74, $0.59, and $0.45, with a Value Area high at $0.876. The cryptocurrency has historically found support around these levels, particularly at the $0.72 mark where buyers have consistently shown interest.
The Awesome Oscillator indicates that bearish momentum remains dominant, though it has weakened following the recent price bounce. This technical indicator suggests the possibility of a move toward $0.87-$0.90 before any potential continuation of the downtrend.
On-chain metrics present a mixed outlook for ADA. The Daily Active Addresses (DAA) divergence shows declining network participation despite the price increase. This metric has historically served as an indicator of momentum, potentially suggesting challenges in maintaining recent gains.
However, other technical indicators paint a more optimistic picture. The Chaikin Money Flow (CMF) sits above the signal line zero, indicating increasing buyer demand. The Moving Average Convergence Divergence (MACD) has moved beyond the neutrality zone, suggesting bullish sentiment.
Partnerships
Cardano has made headlines with its recent partnership announcement with Globant, a $10 billion valued publicly traded company. Cardano president Charles Hoskinson confirmed that Globant will utilize the Cardano blockchain to develop decentralized applications and blockchain services.
The cryptocurrency’s community has also adopted a new constitution, a development that could influence market sentiment and price action in the coming weeks.
Current market structure shows ADA trading in what analysts describe as a bearish swing pattern, with the token making lower highs and lower lows since its November rally. The recent low of $0.845 and lower high of $1.13 in January preceded the current price action.
Trading data indicates that $0.82-$0.88 represents a supply zone where sellers have been active. Market observers suggest that bulls need to prevent further lower lows to establish a stable range between $0.68 and $0.81.
Price resistance levels are clearly defined, with $0.85 serving as the next major hurdle. A break above this level could pave the way for a test of the $0.90 mark, while failure to maintain support at $0.80-$0.82 could lead to a retest of lower support levels.
Short-term traders have begun taking positions at $0.77, potentially indicating preparation for a price decline. This comes as some investors shift focus from long-term to short-term positions, reflecting changing market sentiment.
ADA’s performance relative to other potential ETF candidates like XRP and Litecoin has lagged in 2025, though recent price action shows strength compared to market leaders Bitcoin and Ethereum.
At press time, ADA trades at $0.82, representing a 7.22% increase in the last 24 hours, with immediate resistance at $0.85 and support at $0.77
