Cardano has drifted in the green zone as it trades at $0.7093, up 11% in the past day and over 17% in the past week. The trading volume is also up over 65%, which shows growing investor interest.
Whale Accumulations On the Rise
Onchain data from Santiment also showed whale accumulations. Whales holding between 100,000 to 100 million ADA have increased their holdings since April 14, further adding to the bullish sentiment.
Expert Dan Gambardello thinks that Cardano will face strong resistance around $3, where many investors regret not selling before. He expects some price volatility in that area, before it eventually rises to $5, like a quick stop before the next big jump.
Biggest Cardano resistance is really at $3.
It’s where a lot of people have regret for not selling last cycle.
The $ADA pump will probably pause in that general area with a lot of volatility, and then continue to $5.
Cardano held strong at the $0.50 support level on April 7 and has since rallied 21% in two weeks. If Cardano keeps rising and breaks above the 200-day EMA (Exponential Moving Average) at $0.71, the next resistance could be at $0.74, possibly reaching $0.80. This could be a major psychological level for traders. The RSI (Relative Strength Index) is also currently at 57 and trending upwards.
Analyst Javon Marks foresees a 354% surge for Cardano to as high as $2.91. His outlook is based on ADA’s current chart pattern. ADA may follow Bitcoin’s lead in a broader market rally through April.Additionally, Martinez shared that Cardano is breaking out and predicts the next target could be $0.77.
Never Miss a Beat in the Crypto World!
Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more.
Onyxcoin (XCN) experienced an impressive rally earlier this month but has struggled to recover from subsequent declines. Despite initial optimism, the altcoin has failed to regain its momentum, leaving XCN holders increasingly impatient.
As the market sentiment turns uncertain, XCN enthusiasts are questioning the potential for a price uptrend.
Onyxcoin Investors Are Uncertain Of Returns
The current market sentiment for Onyxcoin is largely negative, as reflected in its funding rate. The negative funding rate indicates that more traders are betting against the coin by placing short contracts in the futures market.
This growing dominance of short positions signals skepticism among investors, who are primarily aiming to profit from a potential price drop rather than expecting upward movement. The market is currently more inclined toward caution, and the lack of confidence in a price uptrend has led to increased bearish sentiment among traders.
Onyxcoin’s macro momentum also presents challenges for investors. The Chaikin Money Flow (CMF) indicator, which measures the volume-weighted average of accumulation and distribution, is currently in negative territory, signaling that outflows are still dominating the market. Although the CMF is slightly rising, it has not been able to sustain any meaningful upward movement. This continued dominance of outflows suggests that XCN is still struggling to maintain bullish momentum.
Until the CMF consistently rises above the zero line, the overall sentiment remains cautious. This inability to gain traction could hinder XCN’s potential to break past key resistance levels, leaving the altcoin vulnerable to further declines.
XCN price is currently trading at $0.0186, showing a modest 11% increase over the last 24 hours. While the broader crypto market has experienced an uptick, XCN may struggle to hold above its support at $0.0182.
If the altcoin fails to maintain this level, a drop to $0.0150 is likely, marking a two-week low for the token. This would wipe out the recent gains and could trigger further selling as investors look to minimize their losses.
On the other hand, if XCN successfully secures $0.0182 as a support floor, it could signal a potential recovery. In this scenario, the altcoin might rise to $0.0237, invalidating the bearish outlook and providing an opportunity for further gains. However, this will require stronger investor confidence and broader market support.
The SUI price has risen above the bearish trend that it held since the start of the year, when it marked a new ATH above $5.3. With this breakout, the token has triggered a fresh upswing, which is believed to secure an important resistance level. While the possibility of a continued upswing remains higher, the question remains whether the SUI price will mark a new ATH in Q2 2025.
The SUI ecosystem has been swelling and has emerged as the top-performing one. Besides, the DEX volume over the platform has surpassed $80 billion, while the best-performing tokens in the top 100 are from the SUI ecosystem. On the other hand, more than $12 million in shorts have been liquidated in the last 24 hours. This suggests the market participants have become hopeful of the next price action, and hence, the rise in optimism may lead the rally towards a new ATH.
The daily chart of SUI suggests the token has risen above the bearish influence after triggering a breakout from the edge of the consolidation. The price has broken above the falling wedge, indicating a rise in bullish activity. Besides, the supertrend has turned bullish and hence a rise above the resistance zone between $2.8 and $2.85 could validate a rise above $3 in a short while from now. However, the SUI price is expected to trigger a fine bull run once it secures the 200-day MA at $3.17.
The technicals have also jumped in favor of the bulls, as the MACD is about to enter the positive range while the RSI is about to rise above the upper threshold. On the other hand, the ADX is preparing for a bullish divergence, hinting towards a potential rise in the rally’s strength. The Chaikin Money Flow (CMF) has just surged above 0, hinting towards a rise in the money flow into the token.
Therefore, the SUI price is expected to maintain a consolidated upswing and reach $3.3 by the end of the month and later head towards a new ATH.
The post SUI Enters a Pivotal Range-A 25% Upswing seems to be Imminent Before the End of the Month appeared first on Coinpedia Fintech News
The SUI price has risen above the bearish trend that it held since the start of the year, when it marked a new ATH above $5.3. With this breakout, the token has triggered a fresh upswing, which is believed to secure an important resistance level. While the possibility of a continued upswing remains higher, the …
Bitcoin (BTC) surged past the $90,000 mark following reports of its potential preferential treatment in President Donald Trump’s proposed US crypto reserve strategy.
The speculation comes ahead of the White House Crypto Summit, which Trump will host and feature top digital asset industry executives.
Trump’s Bitcoin Reserve Plan Unveiled
Citing Commerce Secretary Howard Lutnick, The Pavlovick Today revealed that the strategic cryptocurrency reserve would be on Friday’s agenda for President Trump’s White House Crypto Summit.
“The President definitely thinks that there’s a Bitcoin strategic reserve. Now there will be the question of, how do we handle the other cryptocurrencies? And I think the model is going to be announced on Friday,” Lutnick reportedly stated.
Reportedly, Trump envisions a strategic Bitcoin reserve, distinguishing it from other cryptocurrencies. Lutnick suggested Bitcoin would receive unique status under Trump’s plans.
“So Bitcoin is one thing, and then the other currencies, the other crypto tokens, I think, will be treated differently—positively, but differently,” he added.
Following this news, Bitcoin reclaimed the $90,000 psychological level, with BTC trading for $90,097 as of this writing. According to BeInCrypto data, this represents a surge of over 7% since Wednesday’s session opened.
The prospective preferential treatment for Bitcoin is unsurprising given its heft as the pioneer crypto. Similarly, its commodity status, like Ethereum (ETH), also positions it for possible privilege.
In a recent Truth Social post, he emphasized his administration’s commitment to elevating the crypto sector. Specifically, Trump announced that the US crypto reserve would include XRP, SOL, and ADA alongside Bitcoin and Ethereum.
However, Lutnick’s comments suggest that Bitcoin may receive special status under the new framework. While Trump’s announcement has fueled bullish sentiment in the Bitcoin market, it has also sparked significant debate.
Some crypto leaders have expressed skepticism about including alternative cryptocurrencies (altcoins) in the US reserve. Critics argue that favoring Bitcoin while treating other tokens differently could create market distortions.
Another major talking point is Ethereum’s role—or lack thereof—in the prospective crypto reserve strategy. The White House Crypto Summit will feature leaders from ecosystems running on Ethereum, but the blockchain lacks representation.
Notwithstanding, the announcement of a strategic crypto reserve has led to speculation about an incoming altseason. Tim Haldorsson, founder of Luna Strategy, told BeInCrypto that Trump’s plan could drive increased investment into altcoins.
However, Henrik Zeberg Jensen, the head of Macroeconomics and fund manager of Swissblock Technologies AG, has a different opinion.
“Trump does not stand as a testimony to or a proof of which tokens will have success. Look at his meme coin [TRUMP]! No usability- and driven by speculation. The success of any token in the long run will be based on the usability of the token in future solutions which will lift productivity and reduce cost. Trump’s picks in that respect seem arbitrary,” Zeberg told BeInCrypto.
Should Bitcoin get preferential treatment in the crypto reserve, altcoins could still benefit. Historically, Bitcoin-led rallies have often paved the way for altcoin surges.
