Cardano is making its way back into the talks of the crypto market. This time around, the fuel for the buzz comes from Midnight sidechain and the Glacier airdrop. These developments have come at a time when on-chain data and patterns suggest ADA may be gearing up for an uptrend. In this price analysis, we explore the potential moves the ADA price could make in the short term.
ADA Price to Eye for $1 Soon?
Cardano’s ADA is presently changing hands at $0.7284, while recovering from a weekly low of $0.7238. Despite a -9.61% drop over the past week, ADA price is still up +18.58% over the last month. The biggest signal comes from the $932 million in outflows from centralized exchanges, a pattern that mirrors ADA’s 2021 accumulation before it chugged up to an all-time high of $3.10.
Looking at the 4-hour chart, ADA is attempting to reclaim its 9-period SMA at $0.7338. The RSI is sitting at 44.11, indicating bearish momentum is weakening and may reverse if volume increases. A break above $0.75 could serve as confirmation of a bullish divergence forming, which could take the price to $0.84, then to $1. In contrasting events, the support remains at $0.66.
Three Bittensor subnet tokens — Chutes, Proprietary Trading Network, and Targon — are among the top projects to watch this week.
Chutes remains the largest subnet token by market cap despite recent price pressure, while Proprietary Trading Network is gaining attention through the DeFAI narrative. Targon, meanwhile, is trading at deeply oversold levels and could be setting up for a potential rebound. Here’s a closer look at each of these Bittensor-based tokens heading into the first week of May.
Chutes
Chutes is a serverless AI compute platform built by Rayon Labs. It is designed to deploy, run, and scale any artificial intelligence model within seconds.
Users can interact directly with the Chutes platform or integrate it easily through a simple API, offering fast and flexible AI infrastructure without the complexity of traditional server management.
Chutes is currently the largest Bittensor Subnet token by market cap, but it has faced pressure recently, falling nearly 18% over the past seven days.
After rallying 67% between April 7 and April 12, the token has since dropped about 30% from its peak. Its Relative Strength Index (RSI) is now at 23.78, signaling deeply oversold conditions.
This setup could mean that Chutes is nearing a potential reversal zone.
If the project manages to recover its earlier momentum, being the biggest Subnet on Bittensor could amplify its gains through network effects, potentially triggering a strong uptrend that could drive the price back toward the $0.40 range.
Proprietary Trading Network
Proprietary Trading Network, or Taoshi, is a decentralized finance platform operating within the Bittensor ecosystem. It builds dynamic subnetworks where decentralized AI and machine learning models analyze data across multiple asset classes.
Its mission is democratizing access to sophisticated trading strategies, combining AI, blockchain, and finance to deliver advanced data that helps users make more informed financial decisions.
Proprietary Trading Network’s market cap is close to $50 million, with its trading volume jumping nearly 160% in the last 24 hours to reach $3 million.
Proprietary Trading Network Token Performance. Source: Tao Stats.
If the current momentum strengthens, the token could soon rise to retest the $0.20 and $0.25 resistance levels, supported by growing attention across these sectors.
Targon
Manifold Labs developed Targon, which is a Bittensor Subnet token that is building an AI cloud platform that enables users to run inferences on AI models at high speed and low cost.
Through its Playground and API, Targon offers many models optimized for completion and chat tasks.
The platform emphasizes fast performance, high scalability, and cost-efficiency, allowing developers and companies to deploy and scale AI models while minimizing infrastructure complexity easily.
Crypto Market Today (March 12): Bitcoin (BTC) price regained an upward trajectory after a bloodbath, briefly touching $83K as of early Asian hours on Wednesday. Major-league altcoins such as XRP, Solana (SOL), and Ethereum (ETH) have followed, surging 1%-7% intraday. Notably, Kaspa (KAS) has led the broader market gains, soaring 16%.
Crypto Market Today: BTC & Altcoins Bounce Back After Dip
The crypto market added 3.5% value intraday, as indicated by a global market cap of $2.67 trillion. Further liquidations from yesterday declined by over 58% and reached $389.61 million (Coinglass data), offering relief to prices.
Intriguingly, the digital asset sector appears to be digesting trade war tensions post-Trump’s new tariffs as well as rising fears of a U.S. recession.
BTC Price Touches $83K High Intraday
After crashing to a multi-month low of $76K, BTC price regained a rising trajectory today, exchanging hands at $82,120. The flagship crypto rose over 3% intraday, hitting a low and a peak of $79,059.43 and $83,737.45, respectively.
Bitcoin’s market dominance saw a 0.22% upswing to 61.27%, undermining altcoins’ gains. Market watchers anticipate whether it is finally the time for a rally in light of the recent U.S. strategic Bitcoin reserve announcement.
ETH Price Jumps 1%
ETH price managed to gain only 1% in the past 24 hours, closing in at $1,863. The crypto hit an intraday bottom and peak of $1,842.15 and $1,961.80 in the past 24 hours. Ethereum’s market dominance slipped to 8.5%, a considerable decline from previous levels of above 9%.
XRP Price Soars 7%
XRP price witnessed a remarkable 7% uptick in value intraday and exchanged hands at $2.15. The coin bottomed and peaked at $2.05 and $2.24, respectively. Ripple’s native coin surged in tandem with Franklin Templeton’s S-1 filing for an XRP ETF recently.
SOL Price Gains 2%
SOL price witnessed gains worth 2% in the past 24 hours and exchanged hands at $122. The crypto’s 24-hour low and high were $118.87 and $128.15, respectively. Solana’s price rose alongside the broader market trend this Wednesday.
Meme Crypto Market Today
Meme coins’ prices have also mirrored an uptrend in sync with other coins’ prices today. Dogecoin (DOGE) price witnessed a 4% uptick and traded at $0.1610. Shiba Inu (SHIB) price followed, gaining 3% to $0.00001190. Pepe Coin (PEPE) was up by a remarkable 7% and rested at $0.000006204.
Top Crypto Market Gainers Today
Meanwhile, some coins have led the broader market gains today, capturing noteworthy investor attention as they signal a potential recovery-trend brewing.
Kaspa (KAS)
Price: $0.06836
24-Hour Gains: +16%
Celestia (TIA)
Price: $3.21
24-Hour Gains: +14%
Bittensor (TAO)
Price: $256.5
24-Hour Gains: +12%
Top Crypto Market Losers Today
Ethena (ENA)
Price: $0.3722
24-Hour Loss: -7%
Maker (MKR)
Price: $1,078.61
24-Hour Loss: -4%
TRON (TRX)
Price: $0.2229
24-Hour Loss: -3%
Overall, the broader market’s rising action has sparked considerable hope among traders and investors about a potential price recovery cooking. Nevertheless, it’s worth considering the highly volatile nature of digital assets could soon bring riveting movements back into action.
