{"id":178210,"date":"2025-09-29T17:47:09","date_gmt":"2025-09-29T17:47:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/178210\/"},"modified":"2025-09-29T17:47:09","modified_gmt":"2025-09-29T17:47:09","slug":"does-cardano-still-have-the-same-cult-like-fervor-as-it-did-in-2021","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/178210\/","title":{"rendered":"Does Cardano still have the same cult-like fervor as it did in 2021?"},"content":{"rendered":"

\t\t\t\t\t\t\t\tKey Takeaways
\nWhy is Cardano hovering near $0.80?<\/p>\n

ADA traded in the $0.757\u2013$0.815 range, with Bollinger Bands oversold and RSI at 43.6, hinting at possible recovery.<\/p>\n

What do on-chain signals show for ADA?<\/p>\n

Exchanges recorded $66.82 million outflows, but shorts outweigh longs $43.5 million vs. $22.2 million, keeping sentiment cautious while accumulation suggests upside potential.<\/p>\n

Cardano [ADA]<\/a> has been stuck in a narrow range after losing trendline support, and traders are split on whether the next big move will be up or down.<\/p>\n

ADA price momentum<\/p>\n

However, the overall cryptocurrency market began to recover at press time. <\/p>\n

Major coins, including Bitcoin [BTC]<\/a> and Ethereum [ETH]<\/a>, recorded price gains of 2.10% and 2.75% respectively, and this positive momentum was also reflected in ADA\u2019s price.<\/p>\n

Cardano has been trading sideways for the past five days after breaking below a key ascending trendline.<\/p>\n

At press time, ADA changed hands at $0.799, up 4.12% in 24 hours, with a 56% jump in trading volume to $852 million.<\/p>\n

Analysts eye bold targets for ADA<\/p>\n

Crypto analyst Crypto Patel noted that ADA\u2019s structure mirrors its 2021 run from $0.09 to $2.94, highlighting resistances at $1.20 and $2.94, with long-term targets of $5.81 and $15.59.<\/p>\n

\"Experts'<\/a><\/p>\n

Source: X (Formerly Twitter)<\/p>\n

Separately, a popular trader claimed ADA will \u201chit $2.00 very quickly,\u201d though without data backing. The post still drew strong community engagement on X.<\/p>\n

\"Cardano<\/a><\/p>\n

Source: X (Formerly Twitter)<\/p>\n

Technical levels to watch for Cardano<\/p>\n

According to ADA\u2019s daily chart, the altcoin has consistently encountered resistance at the $1.20 level. So far in 2025, ADA has tested this level more than three times, and each time it faced a price reversal.<\/p>\n

AMBCrypto\u2019s technical analysis suggested that ADA\u2019s price action was in an unclear direction, as it moved in a tight range between $0.7574 and $0.8156 after breaching a key support level.<\/p>\n

\"Cardano<\/a><\/p>\n

Source: TradingView<\/p>\n

Seemingly, ADA\u2019s consolidation could break in either direction. If it breaks the upper boundary, the market could see a strong price recovery, whereas a break below the lower boundary could trigger a quick downside move.<\/p>\n

At press time, the technical indicator Bollinger Bands hinted at a potential recovery. <\/p>\n

In fact, the daily chart showed that ADA hovered near the lower boundary of the Bollinger Bands, suggesting that the altcoin was in oversold territory and could soon experience a price reversal.<\/p>\n

Meanwhile, the RSI at 43.6 points to neutral momentum. Market sentiment could push it in either direction.<\/p>\n

On-chain signals: Outflows vs. shorts<\/p>\n

Despite the unclear market direction, investors and long-term holders appeared to continue accumulating ADA tokens, according to data from CoinGlass.<\/p>\n

Exchanges witnessed an outflow of $66.82 million worth of ADA over the past week. This substantial outflow hints at potential accumulation and could trigger an upside rally if market sentiment shifts.<\/p>\n

\"ADA<\/a><\/p>\n

Source: CoinGlass<\/p>\n

On the other hand, traders appeared to have a bearish outlook. CoinGlass data showed that over the past week, traders continued to bet on the downside.<\/p>\n

The Liquidation Map highlighted clusters at $0.757 (longs) and $0.838 (shorts). Traders built $22.2M in long leverage but $43.5M in shorts, tilting sentiment bearish.<\/p>\n

\"ADA<\/a><\/p>\n

Source: CoinGlass<\/p>\n

Until this imbalance shifts, ADA may struggle to reclaim the $1.00 handle.<\/p>\n

\t\t\t\t\t\t\t\t\t\t\tNext: 2.16 mln Ethereum unstaking countdown: What it means for the market<\/a>\t\t\t\t\t\t\t\t\t\t<\/p>\n","protected":false},"excerpt":{"rendered":"Key Takeaways Why is Cardano hovering near $0.80? ADA traded in the $0.757\u2013$0.815 range, with Bollinger Bands oversold…\n","protected":false},"author":2,"featured_media":178211,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[53,45,49,48],"class_list":["post-178210","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-ambcrypto","tag-business","tag-ca","tag-canada"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/178210","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=178210"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/178210\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/178211"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=178210"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=178210"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=178210"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}