Cardano ADA Shows Signs of Reversal with Price Breakout

Cryptocurrency market updates

Cardano Price Breaks Out Of Prolonged Bearish Trend Toward $0.7

After weeks of constrained price action and consistently lower highs, Cardano (ADA) appears to have finally broken free from its bearish grip. A recent analysis by crypto trader TehThomas on the TradingView platform confirms that ADA has broken out on the 4-hour chart, which may be marking the beginning of a more significant trend reversal. Cardano, like the rest of the crypto market, experienced a bearish trend in March. This bearishness was so intense that it saw the altcoin go from hoping to break above $1 in the first few days of March to the bulls working to prevent a close below $0.65 at the end of the month. In terms of price action, the Cardano price held up better than most large market-cap cryptocurrencies throughout this decline.

Cardano Launches New Open-Source Digital Identity Platform - Veridian

Cardano has launched Veridian, an open-source identity wallet and platform now available on iOS and Android. Veridian enables users and companies to control their verifiable credentials and other sensitive information through a user-controlled system. It employs decentralized identity-proving systems in response to increased concerns about privacy and personal data breaches in the modern world. Users are now in control of their personal data with secure, verifiable credentials and privacy-preserving infrastructure.

Cardano Price Climbs, Volume Dips

Cardano (ADA) price gains and trades at $0.6521, up 0.80% in the last 24 hours. The daily trade volume is down 28.72%. Cardano declined 7.67% in the last 7 days, with a total market capitalization of $22,997,681,287. The top gainers are Cosmos, Pendle, and EOS, while the top losers are Pi, Berachain, and Toncoin.

Cardano Whales Accumulate $150 Million Worth of ADA in 72 Hours

Over the past 72 hours, whales holding between 10 million and 100 million ADA have accumulated over 230 million ADA, valued at over $150 million. This shift from selling and staying neutral to accumulation indicates a shift in sentiment, with whales optimistic about ADA’s potential for Q2 2025. Their recent activity signals confidence in the altcoin’s recovery despite the recent market struggles. If Cardano (ADA) can break through the $0.70 level, it could signal the end of the bearish sentiment.