Gate News: On March 23, Cardano (ADA) faced significant downward pressure, dropping over 7% last week. The current trading price is around $0.25, close to a key support level. The escalation of the US-Iran conflict has triggered market tension, with US President Trump threatening to strike Iran’s power grid within 48 hours, and Iran responding with possible attacks on energy and water supply facilities in Gulf neighboring countries. This has led investors to sell off risk assets, including Bitcoin and Cardano.
Derivatives data shows that open interest in Cardano futures has decreased to $388.23 million, with the funding rate turning negative to -0.019%, indicating a dominance of short positions. Technical indicators show ADA trading below the 50-day and 100-day exponential moving averages, RSI at 41, and MACD falling below the signal line. Short-term resistance levels are at $0.27 and $0.30, with support at $0.24 and a major bottom at $0.22. A break below this could extend the downtrend.
However, there are also positive signals. Analyst Ali Martinez identified a rare “Black 9” buy signal on the weekly chart using the TD Sequential indicator on March 21, suggesting selling pressure may be easing. If ADA closes above $0.23, this signal could push the price higher toward $0.32 and $0.37.
The Cardano development team recently released Node 10.7.0, laying the groundwork for the next protocol upgrade and optimizing the speed of Plutus smart contract execution. Additionally, the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have classified ADA as a “digital commodity,” providing clearer legal guidance for developers in the US market. The Midnight privacy sidechain developed by Input Output Global is expected to go live on the mainnet this week, potentially bringing new growth momentum to the Cardano ecosystem.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Gate Daily Report (April 27): Comments related to the Trump shooting incident boost the TRUMP coin; the U.S. Department of the Treasury will include Venmo in debt-inquiry donation payments
Bitcoin (BTC) sees a sharp short-term surge and rebound, temporarily trading at around $78,900 as of April 27. Trump’s provocative remarks about the shooting incident boosted the prices of meme coins such as TRUMP, MAGA, and DJT, because a carefully crafted narrative has once again come back into view. The U.S. Treasury has moved Venmo into the debt donation payment channel, after the previously strategic Bitcoin reserve bill stalled.
MarketWhisper1h ago
Ascending Triangle Breakout Loading? Top 5 Altcoins With 5x Upside Potential
Ascending triangles indicate growing buying pressure but need to be confirmed.
Toncoin and Fantom display better trends than others in consolidation.
Overall market conditions still play a crucial role in the success of breakouts.
A common technical pattern has begun to emerge among
CryptoNewsLand1h ago
Crypto Fear and Greed Index Rises to 47, Signaling Neutral Market Sentiment
Gate News message, April 27 — According to Alternative.me, the Crypto Fear and Greed Index stands at 47 today, indicating a neutral market sentiment. The index rose from 33 yesterday (April 26), reflecting a shift toward more balanced market
GateNews2h ago
Whale pension-usdt.eth's $110M Short on BTC and ETH Down $15.25M as April Rally Continues
Gate News message, April 27 — According to on-chain analyst Yujin's monitoring, whale pension-usdt.eth opened a 3x leveraged short position on $110 million worth of BTC and ETH near the start of April, but has since incurred a floating loss of $15.25 million as prices rallied throughout the month.
GateNews3h ago
BNB Price Steady Above $633 as Bulls Face Strong Barriers
Key Insights:
BNB holds above the 50-day EMA near $633, supported by whale activity, while mixed derivatives data keep price action within a consolidation range.
Technical indicators, including RSI and MACD, show mild bullish momentum, though strong resistance levels near $662 and $680
CryptoNewsLand7h ago
Chainlink Price Tightens as $10 Resistance Holds Firm
Key Insights:
Chainlink trades between $8.5 and $10 as a tightening range signals volatility expansion, with buyers showing early strength through higher lows formation.
Open interest drops to $380 million while persistent spot outflows indicate cautious sentiment, though declining selling p
CryptoNewsLand8h ago
