Layer-1 (L1) coin Cardano has recorded a 10% gain over the past week, positioning itself for an extended rally.
The altcoin is now trading close to its 20-day Exponential Moving Average (EMA), a key technical level that, if breached, could validate the ongoing rally and open the door to fresh highs.
ADA Approaches Key Breakout Zone Amid Surge in Buying Pressure
ADA currently trades near its 20-day EMA and is poised to climb above it. This key moving average measures an asset’s average price over the past 20 trading days, giving more weight to recent prices.
When an asset is about to rally above its 20-day EMA, it signals a shift in short-term momentum from bearish to bullish. This crossover signals that ADA buying pressure is increasing and confirms that the asset has entered an upward trend.
ADA’s successful break above the 20-day EMA would signal renewed momentum and act as a dynamic support level for the coin’s price, giving buyers more control.
On-chain metrics further support the bullish outlook. According to Santiment, ADA’s Network Realized Profit/Loss (NPL) has turned negative, indicating that most holders are currently at a loss.
Historically, this discourages selling pressure as traders are less willing to part with their assets at a loss. This behavior encourages longer holding periods, which in turn tightens supply and can drive up ADA’s price in the short term.
Cardano Bulls in Control
On the ADA/USD one-day chart, the coin’s positive Chaikin Money Flow (CMF) reinforces this bullish outlook. At press time, this indicator, which measures how money flows into and out of an asset, is at 0.04.
A positive CMF reading like this indicates that buying pressure outweighs selling pressure. It reflects strong capital inflows into ADA, suggesting that its investors are accumulating rather than offloading their positions. ADA could extend its rally and climb to $0.70 if this trend persists.
After Circle rejected Ripple’s $5 billion buyout offer, rumors are circulating that Ripple made another attempt. Despite the claim that it tried to offer Circle $20 billion, there is no tangible proof supporting this claim.
Commentators pointed out that Circle’s IPO was previously valued at around $5 billion, making a $20 billion offer seem totally ridiculous. It’s hard to be certain, but it appears that this rumor moved the market less than other recent false claims.
This made its refusal especially noteworthy, leading to community speculation.
Last night, rumors began to appear that Ripple’s CEO, Brad Garlinghouse, had made a bold new offer to Circle. Specifically, several prominent social media accounts claimed that Garlinghouse set a new offer at $20 billion.
This rumor gained new traction as crypto industry media publications began reporting on it. Still, Garlinghouse hasn’t publicly said anything.
Users immediately began urging caution, reminding the community that nothing had been confirmed. Meanwhile, several pieces of evidence explain why Ripple’s alleged Circle offer is not credible.
For example, although Circle’s IPO hasn’t launched yet, it still gives valuable market data:
“FYI, Circle’s IPO valuation is ~$5 billion (which is the valuation Ripple is looking at when it made its acquisition offer). There is no way Ripple would offer $20 billion for Circle. I see lots of people saying $5 billion is a low offer since Circle holds $60 billion in collateral…However, it does not own that collateral,” Dom Kwok, co-founder of EasyA, stated.
It’s hard to be certain, but the rumor has apparently left a minimal market impact. False claims have recently had an outsized influence over the crypto industry; rumors of Trump pausing tariffs caused huge chaos.
Similar statements regarding XRP ETF approval and OpenAI integrating Worldcoin proved untrue. Nonetheless, they were definitely influential.
Of course, it’s still difficult to draw a clear conclusion from this. Did large numbers of people believe Ripple’s alleged Circle offer? Were retail traders suspicious of the claim?
Hopefully, the crypto community will move past this period of credulity. When markets consistently move on misinformation, it can disrupt momentum.
Hyperliquid (HYPE) is showing strong technical signals across multiple indicators, with the token surging more than 15% in the last 24 hours. The platform continues to demonstrate impressive market performance, generating $47 million in fees over the past 30 days and outperforming major blockchain networks like Ethereum and Solana.
Technical indicators suggest a potential golden cross formation, meaning HYPE could test $21 or even $25.80 in the coming period.
Hyperliquid Revenue Places It Among Top Protocols In Crypto
Hyperliquid is currently one of the most successful protocols in crypto. Over the past 30 days, it has generated an impressive $47 million in fees and recently reached $1 trillion in perps volume.
While this places it behind major players such as Jito, Pumpfun, and PancakeSwap in terms of monthly revenue, Hyperliquid has surpassed significant blockchain apps and chains, including Solana, Ethereum, Raydium, and Phantom.
Selected Protocols and Chains Revenue. Last 24 hours, Last 7 Days, and Last 30 Days. Source: DefiLlama.
What makes Hyperliquid’s success particularly remarkable is that, unlike most other high-performing protocols that operate on established blockchain networks such as BNB, Solana, or Ethereum, Hyperliquid functions as its own independent chain.
With the exception of Tron, virtually all other major protocols rely on parent blockchains, whereas Hyperliquid has achieved its substantial revenue figures as a standalone entity.
Despite this impressive performance and unique positioning, HYPE has experienced considerable downward price pressure recently, trading below the $20 threshold for sixteen consecutive days, creating a notable disconnect between the protocol’s operational success and its market valuation.
HYPE DMI Shows Buyers Are In Control
The HYPE DMI (Directional Movement Index) chart shows promising momentum shifts, with the ADX (Average Directional Index) rising from 15.7 to 19, suggesting a strengthening trend conviction.
More significantly, the +DI (Positive Directional Indicator) has surged from 18 to 29.1, while the -DI (Negative Directional Indicator) has declined from 21.8 to 13.5. This crossover pattern, where +DI rises above -DI, typically signals a potential bullish reversal.
The increasing spread between these indicators and the rising ADX suggests that buying pressure is overcoming selling pressure, potentially setting the stage for HYPE to break above its recent sub-$20 trading range.
HYPE’s RSI climbing from 54.5 to 66 indicates growing bullish momentum that hasn’t yet reached extreme levels. This uptick suggests strengthening buyer interest while remaining below the overbought threshold of 70.
The fact that HYPE hasn’t reached overbought levels since December 2024 implies there may still be room for price appreciation before any potential pullback.
Together with the DMI indicators, this RSI reading reinforces the possibility of continued upward movement in HYPE’s price in the near term.
Will Hyperliquid Rise Above $20 This Week?
The HYPE Exponential Moving Average (EMA) lines are converging toward a potential golden cross formation, which occurs when a shorter-term moving average crosses above a longer-term one.
This technical pattern typically signals a strong bullish momentum shift that could propel HYPE to test its immediate resistance level at $17. Should buyers successfully break through this threshold, the path would open for HYPE to climb toward the $21 mark.
In scenarios where exceptional buying pressure materializes, Hyperliquid could extend its gains to challenge the significant resistance level at $25.80, representing a substantial recovery from its recent sub-$20 trading range.
Conversely, if the anticipated uptrend fails to materialize and bearish sentiment prevails, HYPE could experience renewed downward pressure, forcing it to test the critical support level at $12.43.
The importance of this support cannot be overstated, as a breach below this floor could trigger accelerated selling, potentially pushing HYPE under the psychologically significant $12 level for the first time since December 2024.
Token unlocks play a pivotal role in the crypto market, impacting liquidity, price volatility, and investor sentiment. They are events in crypto where locked coins or tokens are released and become available for trading in the open market.
This week, three major projects—Axie Infinity (AXS), Jito Labs (JTO), and Xave (XAV)—will release previously locked tokens into circulation. Here’s what you need to know and watch for.
1. Axie Infinity (AXS)
Unlock Date: April 12
Number of Tokens to be Unlocked: 10.72 Million AXS (3.97% of Total Supply)
Current Circulating Supply: 160.159 Million AXS
Total supply: 270 Million AXS
Axie Infinity is a blockchain-based game featuring digital creatures called Axies, often compared to Pokémon. This pet-centric game combines elements of blockchain, NFTs, and ERC-20 tokens, offering players the chance to collect, battle, and trade unique creatures in a virtual world.
The April 12 unlock will consist of 10.72 million AXS tokens valued at about $29 million. Axie Infinity will award the majority of these tokens for staking rewards and for the team.
Number of Tokens to be Unlocked: 11.31 Million JTO (1.13% of Total Supply)
Current Circulating Supply: 313.37 Million JTO
Total supply: 1 Billion JTO
Jito is a liquid staking service on Solana that distributes MEV rewards to holders. On April 7, Jito will unlock 11.3 million tokens which is currently worth around $20 million.
The project will allocate the majority of the unlocked tokens for ecosystem development, core contributors, and community growth. Additionally, it will allocate 10% of the tokens for airdrops.
Number of Tokens to be Unlocked: 313.29 Million XAV (3.13% of Total Supply)
Total supply: 10 Billion XAV
Xave is a DeFi platform that focus on decentralized foreign exchange (FX) markets. It enhances stablecoin liquidity through an automated market maker (AMM) model.
On April 11, the network will unlock over 313 million XAV tokens, which constitutes just over 3% of the total supply. Xave will largely focus distribution to the team, investors, and treasury.
