{"id":5973,"date":"2025-03-22T14:00:24","date_gmt":"2025-03-22T14:00:24","guid":{"rendered":"https:\/\/coinsrise.net\/blog\/can-cardano-reclaim-1-analyst-says-ada-price-must-hold-this-crucial-level\/"},"modified":"2025-03-22T14:00:24","modified_gmt":"2025-03-22T14:00:24","slug":"can-cardano-reclaim-1-analyst-says-ada-price-must-hold-this-crucial-level","status":"publish","type":"post","link":"https:\/\/coinsrise.net\/blog\/can-cardano-reclaim-1-analyst-says-ada-price-must-hold-this-crucial-level\/","title":{"rendered":"Can Cardano Reclaim $1? Analyst Says ADA Price Must Hold This Crucial Level"},"content":{"rendered":"

Cardano (ADA)\u2019s price continues to move sideways, holding its range for the past 10 days, while online sentiment grows. Some analysts suggest that a retest of the local resistance could be near if the cryptocurrency holds its crucial support zone.<\/p>\n

Cardano Holds Key Range<\/h2>\n

Cardano has retraced 40% from its two-month high of $1.17, dropping to the $0.7 range over the past few weeks. ADA climbed 80% on March 2 after US President Donald Trump announced a \u201cCrypto Strategic Reserve,\u201d including the cryptocurrency, which sent the token to monthly highs.<\/p>\n

After its massive pump, the altcoin retraced to $0.9, holding this zone through the following days. However, the March 6 executive order establishing a Strategic Bitcoin Reserve and a \u201cDigital Asset Stockpile\u201d sent ADA below the crucial level.<\/p>\n

At the time, the White House\u2019s Crypto Czar, David Sacks, clarified that the ADA and the other altcoins named were just used as a reference for the top cryptocurrencies in the market.<\/p>\n

Since then, Cardano has moved sideways, hovering between $0.68-$0.75. ADA dropped to $0.64 during the March 11 market crash before bouncing. Despite the ongoing price action, online sentiment has been positive towards ADA this week.<\/p>\n

On Tuesday, on-chain analytics firm Santiment pointed out that Cardano saw a highly positive sentiment on social media. The bullish sentiment was fueled by the Securities and Exchange Commission (SEC) classification of ADA\u2019s use case as \u201csmart contracts for government services.\u201d<\/p>\n

The news \u201cpushed bullishness to its highest rate in over 4 months,\u201d the firm noted. Moreover, large-scale investors have also shown positive sentiment toward Cardano, with Whales purchasing<\/a> around 190 million ADA tokens in the past 48 hours.<\/p>\n

ADA Breakout Or Breakdown Next?<\/h2>\n

ADA has been in a downtrend since December 2024, when it hit its 3-year high of $1.32. The February market retraces sent the cryptocurrency\u2019s price below several crucial support zones, with the token hovering between the $0.60-$0.80 price range.<\/p>\n

Analyst Sjuul from AltCryptoGems noted<\/a> ADA has \u201ca weird-looking chart, mainly due to the announcement of the strategic reserve.\u201d As a result, Cardano\u2019s most crucial support level is at $0.66, as it could send it to monthly lows.<\/p>\n

According to the analyst, \u201cThat level should hold; otherwise, all this recent price action will result in a distribution phase.\u201d Previously, Sjuul affirmed\u00a0Cardano\u2019s chart displayed a Power of 3 in the making, signaling that the cryptocurrency was entering the third phase.<\/p>\n

This pattern divides the price cycle into three phases: accumulation, manipulation, and distribution. In the last phase, a strong price breakout occurs, with momentum building in the direction opposite to the manipulation. Based on this, if ADA lost the $0.66 mark, the token could see a significant price correction.<\/p>\n

Meanwhile, a pseudonym trader pointed<\/a> out that the altcoin shows \u201ca bullish reversal after breaking out of a falling wedge pattern.\u201d Per the post, Cardano could enter a strong uptrend if it maintains its momentum.<\/p>\n

Nonetheless, ADA must \u201chold the current support levels and break above the local resistance for confirmation of further bullish continuation\u201d to the $1.22 target.<\/p>\n

Analyst Ali Martinez noted<\/a> that ADA trades within a right-angled descending wedge, with the upper trendline at $1.15. He suggested that a daily close above $1.15 would push ADA\u2019s price to the $2 mark, not seen since 2021.<\/p>\n

\"Cardano,<\/p>\n","protected":false},"excerpt":{"rendered":"

Cardano (ADA)\u2019s price continues to move sideways, holding its range for the past 10 days, while online sentiment grows. Some analysts suggest that a retest of the local resistance could be near if the cryptocurrency holds its crucial support zone. Cardano Holds Key Range Cardano has retraced 40% from its two-month high of $1.17, dropping…<\/p>\n","protected":false},"author":1,"featured_media":5974,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[33,2784,36,37,2785,274,25,942,734,252,17,2786,2594,2572],"class_list":["post-5973","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency-market-news","tag-ada","tag-ada-whales","tag-adausdt","tag-cardano","tag-cardano-sentiment","tag-cardano-whale-activity","tag-crypto-analyst","tag-crypto-investors","tag-crypto-market-correction","tag-crypto-trader","tag-cryptocurrency-market-news","tag-digital-assets-stockpile","tag-us-crypto-reserve","tag-us-president-donald-trump"],"_links":{"self":[{"href":"https:\/\/coinsrise.net\/blog\/wp-json\/wp\/v2\/posts\/5973","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinsrise.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinsrise.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinsrise.net\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/coinsrise.net\/blog\/wp-json\/wp\/v2\/comments?post=5973"}],"version-history":[{"count":0,"href":"https:\/\/coinsrise.net\/blog\/wp-json\/wp\/v2\/posts\/5973\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinsrise.net\/blog\/wp-json\/wp\/v2\/media\/5974"}],"wp:attachment":[{"href":"https:\/\/coinsrise.net\/blog\/wp-json\/wp\/v2\/media?parent=5973"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinsrise.net\/blog\/wp-json\/wp\/v2\/categories?post=5973"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinsrise.net\/blog\/wp-json\/wp\/v2\/tags?post=5973"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}