Cardano price bullish crossover seen on the weekly chart, indicated potential upside momentum. The 21-week EMA crossed above the 55-week EMA at $1.09.
Historically, the last similar event happened in February 2021 led to a 400% price surge. The 21-week EMA values were $0.721, the 55-week were $0.568, and the 169-week were $0.548, reflecting gradual upward alignment.
Cardano prices moved from a low of $0.82 to a high of $1.12, closing at $1.09, with increased volumes.
This crossover suggested sustained bullish sentiment, but if the pattern mirrors past performance, ADA prices could rally significantly over the medium term.
Strong support exists near $0.83, while initial resistance lies at $1.20. A breakout above resistance may validate further upward momentum. If the market maintains support it could challenge bullish projections.
This alignment positions ADA at a critical juncture. While historical trends offer optimism, external factors will likely influence the trajectory with Caution as market conditions evolve.
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Cardano Price Leads Weekly Crypto Gains
Cardano price achieved the top spot in weekly returns out of the top 10 cryptocurrencies, delivering an impressive 12.2% gain.
XRP followed closely with an 11.9% return, while Solana secured third place with a 10.5% weekly increase.
Dogecoin posted 8.6%, while Avalanche gained 5.1%, rounding out the top five. Ethereum saw a moderate 3.6% gain, while Binance Coin increased by 2.6%.
Bitcoin, despite its dominance with a $1.92 trillion market cap, posted a modest 1.3% return. Toncoin was the only asset in the negative, with a -1.4% weekly decline.
Cardano’s rise reflected strong investor confidence, pushing its year-to-date return to 14.2%, supported by a $39.1 billion market cap.
XRP and Solana also displayed strong annual returns at 15.9% and 9.7%, respectively. Market sentiment remained varied, as leading cryptocurrencies opened for mixed performance.
If trends persist, Cardano and XRP could lead, while Bitcoin’s underperformance may signal potential stagnation.
Open Interest and Retail Longs Percentage
As ADA/USD surged past $1.09, Open Interest (OI) climbed to $253.88M, reaching the 85th percentile.
Retail long percentages ended rapidly, falling to 67.52%. This divergence indicated strong institutional interest while retail traders leaned toward shorting.
The Cardano price action showcased consistent higher highs and higher lows, confirming a bullish trend. The histogram illustrated significant OI concentration at elevated levels, suggesting increased leverage activity.
Retail shorts persisted despite ADA maintaining upward momentum, pointing to potential liquidation risk if prices rose further.
The breakout above $1.05 was accompanied by increasing buying pressure, marking a decoupling of retail positioning from market direction.
If these conditions persisted, Cardano price could retest higher resistance levels around $1.15. However, sustained selling by retail traders might exacerbate volatility.
The data reflected an ongoing shift toward institutional dominance, with retail traders positioned against the trend.
ADA’s Ghost-Chain Claims
Cardano’s network activity surged, invalidating claims of it being a “ghost-chain.” Verified followers reached 6.3K out of 54.8K, while total impressions hit an impressive 46.4M.
Engagement metrics reinforced active participation, with a 4.9% engagement rate and 2.3M engagements recorded overall.
Likes surpassed 1M, showcasing high interest, while reposts and replies totaled 144.4K and 137.3K.
Profile visits reached 108K, indicating rising curiosity about Cardano-related updates. Shares remained robust at 7.5K, and bookmarks totaled 14.1K, reflecting strong ongoing attention.
If the engagement trend continued, it could fuel further network adoption and awareness. The data reflected broader interest in Cardano, with high activity across multiple fronts.
Sustained momentum in Cardano price would likely validate its growing adoption and support.
