Cardano Primed for 40% Rally—Will ADA Smash Through $0.76 and Charge Toward $1?

Cardano’s ADA is flashing bullish signals as traders eye a potential 40% surge. The key question: Can it crack the $0.76 resistance and reignite the march toward $1—or will it get stuck in the usual ’buy the rumor, sell the news’ crypto cycle?

Technical charts show ADA building momentum, but let’s be real—this isn’t its first rodeo toward dollar parity. The network’s upgrades keep the faithful hodling, while skeptics mutter about ’ghost chain’ accusations. One thing’s certain: if ADA reclaims $1, the Twitter hype machine will go nuclear.

Meanwhile, Wall Street still can’t decide if crypto is an asset class or a speculative casino. Place your bets.

Cardano (ADA) Technical Analysis Update:

Cardano (ADA/USD) is at $0.7130, above the 50 day EMA at $0.6796 – a key short term support. This move with a strong bullish MACD crossover is bullish. Immediate resistance is at $0.7226 – a descending trendline.

For a trade, a break above $0.7226 with volume could be a continuation to the next resistance at $0.7349. But if price fails to clear this level, a pullback to $0.6988 or even the 50 EMA at $0.6796 is possible.

Potential Trade Setup:

• Buy Above: $0.7226

• Take Profit: $0.7349

• Stop Loss: $0.6988

Key Technical Indicators:

• RSI: Above 50 – bullish.

• CMF: -0.08 – weak buying pressure.

• Supports: $0.6988, $0.6796, $0.557.

• Resistances: $0.7226, $0.7349, $0.762.

Fund Transfer Allegations Stir Debate

Cardano is up as Charles Hoskinson and Input Output Global (IOG) are in the hot seat again. Masato Alexander, a vocal critic, claims 318 million ADA was moved from unclaimed ICO vouchers to the network reserves using MIR (Move Instantaneous Rewards) transactions.

According to Alexander:

• Only ~$7 million has been transferred back to buyers.

• 25 million ADA was staked from the moved funds.

• Governance manipulation and lack of transparency is the accusation.

If true, this could be a problem for investors. But the broader Cardano community and developers are denying the claims.

Hoskinson Denies, Community Backs Him

Charles Hoskinson is denying the allegations. He said 99.8% of ADA ICO vouchers were redeemed and the unclaimed 0.2% (with no private keys) were legally moved to Intersect after 7 years.

Hoskinson called the accusations “defamatory” and threatened legal action. Jonathan Morgan, a blockchain analyst, backed him up saying the claims are misleading and the protocol changes were consensus driven not unilateral control.

Community Highlights:

• 300 million ADA returned to rightful claimants.

• Unredeemed vouchers treated within the legal framework.

• Upgrade was consensus driven.

Cardano’s chart and sentiment is setting up for a big move. While governance is a concern, strong community support and transparent communication from Hoskinson might keep the bullish momentum going.