Cardano ADA Poised for Rally: Technicals and Sentiment Signal Move Toward $1.20
Cardano’s ADA is showing strong signs of a potential rebound despite recent price dips, with technical patterns and growing institutional interest pointing toward a bullish future. Retail Optimism and accumulation signals further bolster the case for a rally.
Cardano (ADA) Eyes $1.00 Amid Retail Optimism and Institutional Interest
Cardano’s ADA trades at $0.7709, down 5.70% in 24 hours, yet technical patterns suggest a potential rebound. A falling wedge breakout on the 3-day chart hints at a 15% rally toward $1.20, fueled by $9.18 million in net exchange outflows—a sign of accumulation.
Retail sentiment leans heavily bullish, with 89.56% of Binance traders holding long positions. Institutional confidence grows as Grayscale elevates ADA to its fourth-largest crypto holding, posting an 8.6% weekly gain.
Cardano Founder Denies ADA Fund Misuse Allegations Amid Legal Preparations
Cardano founder Charles Hoskinson faces mounting scrutiny over allegations of mishandling 300 million ADA tokens during a 2021 network upgrade. The claims, spearheaded by NFT creator Masato Alexander on social media platform X, accuse Hoskinson of redirecting unclaimed ICO tokens into network reserves during the Allegra hard fork.
Hoskinson vehemently denies the allegations, characterizing them as baseless and preparing legal countermeasures. The disputed tokens allegedly generated millions in staking rewards, with critics claiming only a fraction benefited Cardano’s development. This controversy emerges as ADA maintains its position among top crypto assets by market capitalization.
Cardano (ADA) and Remittix (RTX) Emerge as Underappreciated Altcoins with Real-World Utility
Cardano and Remittix are carving a niche in the crowded cryptocurrency market by focusing on tangible utility rather than speculative hype. While ADA continues to strengthen its blockchain infrastructure, RTX has made waves with a $15 million presale—a testament to investor confidence in its PayFi solutions.
The presale performance underscores Remittix’s potential to disrupt the payment-focused crypto sector. Both projects now face critical tests: Cardano must deliver on its scalability promises, while Remittix needs to translate presale momentum into functional adoption.
Cardano Whales Accumulate Amid Price Stagnation
Cardano’s ADA remains entrenched below the $1 psychological barrier despite sustained accumulation by large holders. Whale addresses absorbed over 410 million tokens worth $282 million in April alone, according to blockchain analyst Ali Martinez. This accumulation phase follows ADA’s rejection at $1.30 in late 2023 and subsequent plunge to $0.51.
The Glacier Drop upgrade failed to catalyze price momentum, leaving investors questioning when institutional buying pressure will translate into market performance. Such divergence between on-chain activity and price action often precedes volatile breakouts, though timing remains uncertain.
