Key Insights :
- After a strong surge from the $0.60 support, Cardano interpolated back with strong pullback.
- Cardano added 8.6% and is the fourth best performer among the top 10 crypto asset.
- Cardano’s sentiment had a disconnect among retail buyers and institutions in judging the market.
Cardano (ADA) price prediction suggested a potential continuation of the uptrend but the market was in a correction phase as of press time.
Cardano Price Prediction
After a strong surge from the $0.60 support, Cardano interpolated back with strong pullback after it got rejected at the $0.85 resistance.
Cardano price was trading at $0.7999, down 4.84% which indicated prospects of short term weakness in the market.
The Break of Structure (BOS) at the level $0.75 was bullish as it indicated further bullish exit while a break above $0.80 could cause more bullish exit.
The contraction to $0.8500 could however indicate the market touching its upper limit.
If ADA continues to hold above the $0.75 BOS zone, then the retracement could be used as a test, opening the door for another test of the $0.85 resistance.
A break and a consolidation at $0.8500 could prolong the current bullish trend and may open the way for prices to move above $0.9000, but in the context of the changing structure shift, prices will have support.
On the other hand, the break below $0.75 could result in a stronger pullback down to the $0.70-$0.66 zone, which was a region of earlier bullish CHoCH and BOS setups.
Consistent with price action, April BOS and CHoCH have been stable support and reversal points. Whether or not ADA is able to attain the levels above $0.75 will be the turning point before its next phase.
GrayScale Weekly Performance
In the past week, Cardano added 8.6% and was the fourth-best performer among the top 10 crypto assets. It followed Ethereum’s impressive (19.5% increase), SUI’s (13.1%) increase, and Dogecoin’s (9.1%) gain during this period.
Although Cardano price made short-term gains in the last week, its year-to-date return is still in the red at -9.4%, indicating the continued volatility of the alternative coin sphere.
ADA’s $24 Billion market cap made it higher than Chainlink ( With ADA now included in the Grayscale Digital Large Cap Fund, it denoted a significant increase in institutions’ interest.
If the weekly gains were sustained, ADA might take back more prominent positions in the crypto market.
However, the subsequent negative YTD performance points to the fact that a relative rebound depends on other market stability and investors’ confidence.
On the other hand, without further preservation of these gains, there may be further retracement, particularly if there was an escalation of market or regulatory pressures.
ADA Market Sentiment
Cardano’s sentiment suggested a disconnect among retail buyers and establishments judging the market.
At the moment, the retail investors’ reading of +0.88 in sentiment denoted a relative positive and optimistic mood among the general investing public.
However institutional sentiments measured by smart money indicators read -0.33 an indication of caution.
This was an indication that astute investors were taking conservative or hedging positions, perhaps cause of uncertainty regarding the stamina of climbs.
The difference suggested that retail investors continue to expect further gains; institutions were more worried about a possible retreat from growth in a short period of time.
While the retail interest ramped up, ADA may see short-term price appreciation. A negative smart money sentiment indicated potential price drop or increased volatility, if it continued to follow the negative zone.
In the coming days, a shift in either direction, most obviously an increase in smart money sentiment, may help to maintain positively bullish expectations.