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You’ll find everything from hands-on workshops and panels (think DePIN, AI, infra, gaming, Web3 marketing: you know, the stuff we all keep saying we need to “double down on”) to casual fireside chats, a solid Demo Day, and yes – a couple of airsoft battles and city tours to balance it out.
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They’re tagging along as a media partner, so expect interviews, daily recaps, and behind-the-scenes coverage straight from Split. But honestly, you kind of have to be there.
Cardano (ADA) has recently experienced a significant decline, bringing the altcoin to near its monthly low. The potential end of its Golden Cross has raised concerns, as it could signal further bearish price action for the cryptocurrency.
Despite these factors, long-term holders (LTHs) may help prevent a severe downturn by maintaining their positions.
Cardano Ends Its Golden Cross Short
The current market sentiment for Cardano points to the potential formation of a Death Cross. This happens when the 50-day exponential moving average (EMA) slips below the 200-day EMA.
If confirmed, it will mark the end of the ongoing Golden Cross, which has only lasted for three weeks. This short-lived Golden Cross is even shorter than the previous Death Cross, which lasted for over a month.
The relatively brief Golden Cross has left traders with a sense of uncertainty. A reversal in trend may trigger more sell-offs, amplifying the downward momentum. Therefore, Cardano’s price is in a critical phase, with any further bearish developments likely causing a deeper correction.
On the macro level, the Mean Coin Age (MCA) shows signs of an uptick, indicating that long-term holders (LTHs) are holding steady instead of selling. This behavior is crucial for stabilizing Cardano’s price, as LTHs typically resist selling in the face of short-term volatility. Their commitment to holding ADA strengthens the support levels, which could cushion the impact of the bearish trends from the broader market.
The resilience of LTHs provides an important counterbalance to the negative signals emerging from technical indicators. As long as LTHs maintain their positions, it’s possible that Cardano can withstand some of the bearish pressure and limit the downside risk.
Cardano’s current price is at $0.67, holding above the crucial support of $0.66. If the price fails to maintain this support, ADA could experience a further drop, possibly testing the $0.60 level. The loss of this key support could pave the way for additional losses, extending the ongoing downtrend.
The potential formation of the Death Cross would likely exacerbate the situation, bringing ADA to a month-and-a-half low. In such a scenario, the pressure on Cardano could intensify, making a recovery more difficult. Should the technical indicators align with broader market conditions, the risk of further declines increases significantly.
On the other hand, if Cardano price can hold above $0.66 and bounce back, a rise above $0.69 is possible. A successful breach of this level would position ADA for a push toward $0.74, potentially invalidating the bearish thesis. LTHs’ support and a reversal in the broader market could fuel this recovery.
Hedera’s HBAR has bucked the broader market dip to record a slight 1% rally over the past 24 hours. As of this writing, the altcoin trades at $0.17.
This upward movement comes amidst signs of a resurgence in new demand for the altcoin, as highlighted by key technical indicators on the daily chart.
HBAR Bullish Trend Gains Strength
Readings from HBAR’s Moving Average Convergence Divergence (MACD) reveal that on April 9, the token’s MACD line (blue) climbed above its signal line (orange), forming a “golden cross.”
A golden cross occurs when the MACD line crosses above the signal line, signaling a potential bullish trend and increased buying pressure. This confirms that HBAR’s upward momentum is gaining strength, especially as investors commonly view this pattern as a buy signal.
Moreover, as of this writing, HBAR’s Relative Strength Index (RSI) is poised to break above the 50-neutral line, highlighting the spike in fresh demand for the altcoin. It is currently at 49.17 and remains in an uptrend.
The RSI indicator measures an asset’s overbought and oversold market conditions. It ranges between 0 and 100. Values above 70 suggest that the asset is overbought and due for a price decline, while values under 30 indicate that the asset is oversold and may witness a rebound.
At 49.17 and climbing, HBAR’s RSI signals a gradual shift from bearish territory into a more neutral zone. If the altcoin’s RSI continues to rise above 50, it would signal increasing bullish sentiment, driving up HBAR’s value.
HBAR Eyes $0.19 Amid Strong Buying Pressure
HBAR’s surge over the past day has pushed its price above the key resistance formed at $0.16, which has kept the token in a downtrend since March 30.
With growing buying pressure, the token could flip this zone into a support floor. If successful, it could propel HBAR’s price to $0.19.
