Cardano (ADA) has made an impressive comeback, climbing over 20% in the last 24 hours to cross the $1 mark for the first time in months. The move was much-needed because investors were waiting for a clear bullish signal from the token.
In the past day, ADA’s price surged from $0.8454 to $1.01, showing strong buying interest. This breakout could be a start of a more sustained rally, especially since Cardano has been steadily climbing since its June low. The upward trend has held firm through recent market fluctuations.
What’s Next For ADA?
From a technical perspective, ADA’s next important resistance lies between $1.17 and $1.18. This range also aligns with a trendline that had previously capped price gains around $0.95, which ADA has now successfully overcome. If the token stays above this zone, it could target the $1.24 to $1.43 range in the short term.
One analyst has said that the current rally could be part of a larger upward wave that might eventually push ADA toward $1.70, and in a highly bullish case, even $2.30. However, such targets would require continued bullish trend and favorable overall market conditions.
Bulls vs Bears
Sudden price jumps often attract quick profit-taking, which can lead to sharp pullbacks. That makes the $1 level an important level to watch, if ADA holds above it, buying pressure may increase, supporting the next leg up.
For now, Cardano has successfully regained a psychological level, and the coming days will be critical in determining whether it can build on this strength. If bullish momentum continues, ADA could be preparing for its strongest run in over a year.
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Welcome to the US Morning Crypto News Briefing—your essential rundown of the most important developments in crypto for the day ahead.
Grab a coffee to see how Bitcoin (BTC) is faring against public companies, precious metals, and ETFs (exchange-traded funds) on metrics of total assets by market capitalization. The pioneer crypto is proving formidable, taking the stage as a tech stock proxy to ‘dynamic hedge’ against equities and US Treasury risk.
Bitcoin Surpassed Google in Market Cap
Amidst renewed optimism, Bitcoin has surpassed Google, effectively joining the top five assets on market cap metrics.
According to data on companiesmarketcap.com, which tracks over 10,436 firms, Bitcoin is now the fifth most valuable asset after GOLD, Apple (AAPL), Microsoft (MSFT), and Nvidia (NVDA). As of this writing, it boasts a market cap of $1.86 trillion.
This growth comes as Bitcoin progressively gains attention as a hedge against traditional finance (TradFi) and US Treasury risk, which aligns with the most recent US Crypto News publication. As BeInCrypto reported, experts say Bitcoin’s number one purpose in a portfolio is to hedge against risks to the existing financial system.
In contrast, Gold is losing appeal after recently establishing a new all-time high (ATH). While President Trump’s tariffs catapulted Gold to new heights, there appears to be a capital rotation as investors’ appetite for risk grows.
“Bitcoin has surged past the prior $88,800 technical ceiling, clearing the psychological $90,000 mark to trade at an eye-watering $93,500. Meanwhile, Gold has slid 6 percent, reflecting a renewed appetite for risk and a clear rotation into digital assets,” QCP Capital analysts said.
According to analysts, institutions are no longer testing the waters of crypto. Instead, they are diving in headfirst. Based on this outlook, BeInCrypto contacted Standard Chartered Head of Digital Assets Research Geoff Kendrick, who forecasted a new ATH for Bitcoin price.
Standard Chartered Reiterates Next Bitcoin ATH
According to Kendrick, the increasing 10-year US Treasury term premium, now at a 12-year high, correlates with an increase in Bitcoin price. The term premium is the additional yield investors demand to hold a long-term bond instead of a series of shorter-term bonds.
“While correlations vary over time, the relationship between Bitcoin and the term premium is pretty solid, especially since the start of 2024. This relationship shows that Bitcoin has lagged the term premium increase in recent weeks,” Kendrick told BeInCrypto.
According to the analyst, this lag likely reflects the previous narrative that tariffs are hurting tech stocks and Bitcoin trading, such as Mag7 stocks.
“This could be what is needed for the next all-time high, and on that, I reiterate my current forecasts for Bitcoin, of 200k end-2025 and 500k end-2028,” he added.
As Bitcoin acts as a dynamic hedge, it remains to be seen whether it can flip Nvidia this quarter. Nevertheless, Kendrick does not rule it out, acknowledging that dominant narratives change and Bitcoin serves several purposes in portfolios.
HBAR has recorded its first spot inflow in the past seven days, attracting $1.5 million in fresh capital.
This marks a positive shift in market sentiment as investors regain confidence in the altcoin. It also aligns with the broader market’s attempt to recover from recent downturns.
Bullish Momentum Builds as HBAR Gains $2 Million in Inflows
HBAR’s spot inflows surged to nearly $2 million on Monday, signaling a resurgence in bullish sentiment toward the altcoin. Data from Coinglass reveals that this is the first time HBAR has attracted fresh capital in seven days, marking a shift in investor confidence.
According to the on-chain data provider, between March 11 and 16, the altcoin faced consistent sell pressure, with spot outflows exceeding $10 million. This latest inflow suggests a bullish reversal in market sentiment, hinting at a possible recovery as investors regain interest in HBAR.
Furthermore, the altcoin’s positive Balance of Power (BoP) highlights this renewed interest. At press time, this momentum indicator is in an upward trend at 0.62.
The BoP indicator measures the strength of buyers against sellers in the market to identify momentum shifts. A positive BoP like this suggests that buying pressure outweighs selling pressure, indicating growing demand and potential price appreciation.
If HBAR’s BoP remains positive, it confirms the bullish dominance, reinforcing the current buying pressure and supporting a sustained uptrend in the asset’s value.
HBAR Eyes $0.22 as Demand Grows—Will Bulls Maintain Momentum?
HBAR exchanges hands at $0.19 at press time, trading above the support floor at $0.17. As demand grows, the altcoin could climb toward the resistance at $0.22.
A successful break above this level could propel HBAR’s price to $0.26, a high it last traded at on March 4.
Conversely, the bullish outlook would be invalidated if sellers regain dominance and profit-taking strengthens. In this case, HBAR’s price could fall to $0.17.
HBAR has seen a notable rally recently, bringing the altcoin back into a key consolidation zone just under $0.20. Trading close to this critical level, HBAR is showing signs of strong momentum.
A successful breach of $0.20 could mark the beginning of further upside, provided bullish market conditions continue to support the move.
HBAR Traders Are Optimistic
The market sentiment around HBAR remains highly optimistic, as indicated by its funding rate, which has stayed positive for nearly two weeks. A positive funding rate suggests that traders are confident in the altcoin’s bullish trajectory and are positioning themselves to benefit from potential gains.
Additionally, the dominance of long contracts highlights the heightened bullishness among investors. Traders are betting heavily on HBAR’s price increase, reinforcing the view that the altcoin could soon breach its key resistance.
The broader macro momentum for HBAR is mixed, presenting both opportunity and risk. The liquidation map shows that about $42 million worth of long contracts are at risk if the HBAR price falls to $0.167. This exposure underlines the critical importance of the $0.200 resistance.
Given this setup, maintaining current price levels is crucial for HBAR. If the altcoin fails to sustain its upward momentum and investors lose confidence, the resulting liquidations could significantly impact its price trajectory.
HBAR is currently priced at $0.193, holding just under the critical $0.200 resistance. This level has remained unbroken for more than a month and a half. Historically, repeated failures to breach significant resistance levels have often led to declines, making the current situation pivotal for HBAR’s near-term direction.
If HBAR fails to break through $0.200, the altcoin could lose its $0.182 support and slip to $0.167. A fall to this level would trigger the liquidation of the $42 million worth of contracts mentioned earlier, likely intensifying the downward pressure and causing further market distress.
Conversely, if broader market conditions remain favorable and investors continue to support HBAR, the altcoin could successfully breach the $0.200 barrier. Achieving this would invalidate the bearish outlook and set HBAR on a course toward $0.222, opening the door for renewed bullish momentum.
