Altcoin
Cardano (ADA) Price Eyes Breakout as Network Activity Soar
Cardano (ADA) price is in the spotlight as the prospect of the coin skyrocketing to a high of $10 resurfaces on social platforms. Backed by the positive shift in network activities, Cardano is now one of the most promising altcoins in the top 10 with bullish momentum as of writing. Amid the ongoing rebound, Cardano’s price has pared off some of its losses picked up from the volatility this week.
Cardano Network Activity Sees Uptick
According to data from Santiment, an ADA whale entered the market when its price briefly jumped to $1.13. The crypto analytics platform said this whale activity has been the most significant for three months. These whales represent transactions valued at $100,000 in ADA.
Per the accompanying chart, as of March 4, the Cardano network has recorded 1,132 whale transaction counts. The Mean Dollar Invested Age came in at 529.05. In all, the network recorded 2,671 unique $100,000 transactions as the price jumped above $1.13
Alongside this uptick, Santiment noted that the sudden uptick in transactions worth $100,000 sparked a drop in the average age of Cardano now in wallets. This trend has an upside. It implies a jump in the number of ADA tokens in regular circulation.
Cardano Price and the $10 Prospect
At the time of writing, the ADA price was $0.9369, up 9.82% in the past 24 hours. The coin has traded in a very close range, from a low of $0.7684 to a high of $0.9502.
Compared to an earlier ADA price analysis, in which the coin jumped 80%, the market remains cautious. However, the coin has the right fundamentals that might push it to a high of $10.
Beyond the retained 35% growth over the past 7 days, Cardano’s open interest has skyrocketed by over 6% in 24 hours. Per Coinglass data, the coin’s futures open interest is 905.62 million ADA, worth over $842.04 million. A sustained boost in this metric might support the quest to breach higher price levels.
ADA Price and ETF Catalyst
The onchain enhancements spearheaded by Charles Hoskinson, like the push for Cardano to track government spending and the prospect of a Cardano ETF product, also boost ADA price sentiment. The United States Securities and Exchange Commission (SEC) has acknowledged Grayscale’s application for an ADA ETF.
This acknowledgment places the coin on the list of altcoins awaiting official feedback from the SEC for approval or disapproval. Cardano pioneered decentralized governance with the Plomin hard fork and embodies an asset that may lead the next altcoin season.
Godfrey Benjamin
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Solana price has reached a crucial price level as it attempts to break out from a descending parallel channel that has limited its movements for weeks. The asset’s latest price action shows signs of upward momentum, with analysts debating whether this breakout is sustainable.
Meanwhile, on-chain data reveal a SOL whale transferred 494,153 SOL, valued at $71.95 million, to Coinbase Institutional, adding further speculation about market movements.
Solana Price Attempts Breakout From Descending Channel
In recent Solana price analysis, technical indicators suggest the asset is challenging key resistance after weeks of downward movement. A descending parallel channel has been restricting its price, but the latest attempt to break above this trendline has drawn attention from traders.
Analyst Ali Martinez shared a chart showing Solana price moving past its downtrend resistance, targeting a potential rally toward $213. If confirmed, this move could indicate a shift from a bearish trend to a more sustained uptrend.
However, analyst Seth maintains a cautious outlook, suggesting that Solana price remains within the broader channel, facing resistance at crucial levels.
Whale Transfers 494,153 SOL to Coinbase Institutional
Additionally, blockchain tracking platform Whale Alert reported a SOL whale moving 494,153 SOL, worth approximately $71.95 million, to Coinbase Institutional. Large-scale transfers of this magnitude often attract market attention, as they may indicate either selling pressure or institutional accumulation.
If the transferred SOL is intended for liquidation, it could introduce selling pressure, potentially affecting the ongoing breakout attempt. However, if the transaction is related to over-the-counter (OTC) trading or institutional accumulation, it may signal increased demand, which could support further upward movement.
According to recent Solana whale activities, SOL price might be headed for a breakout to $180. A whale’s $14 million accumulation eased selling pressure, supporting the recent rebound to $145. If momentum sustains, breaking the $170 resistance could pave the way for a SOL rally toward $180.
Buyers Return as SAR and MACD Suggest a Breakout
Meanwhile, Solana price technical indicators have also turned bullish, supporting the potential breakout. The Parabolic SAR (Stop and Reverse) indicator, represented by the dotted blue lines, has shifted below the price candles, signaling a possible trend reversal to the upside. This suggests that selling pressure is weakening and buyers are regaining control, increasing the likelihood of a sustained price recovery.
The Moving Average Convergence Divergence (MACD) and Histogram further reinforce this bullish sentiment. The MACD line has started converging toward the signal line, reducing the bearish momentum. Additionally, the histogram bars have begun turning green, indicating a potential crossover into positive territory. This shift suggests that buying pressure is building up, which could support an upward move toward $170 and possibly $180 if resistance levels are breached.
However, historical resistance between $175 and $185 remains a significant test for the asset. To confirm a true breakout, Solana price needs to maintain high-volume closes above these levels. Failure to do so may result in a rejection, pushing the asset back into the descending channel.
More so, the Solana network has outpaced Ethereum in terms of active users and transaction efficiency. This has lead to speculations that SOL price could hit $500 before ETH price reaches $5,000. With 73.4 million monthly active addresses compared to Ethereum’s 7.4 million, Solana’s adoption rate suggests strong upside potential. If this growth trend continues, analysts believe SOL could outperform ETH in the near term.
Ronny Mugendi
Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Crypto analyst CasiTrades has revealed that the XRP price is still at risk of dropping to as low as $1.5. She further mentioned what needs to happen for XRP to avoid dropping to this price target.
XRP Price Could Drop To $1.5 If This Happens
In an X post, CasiTrades revealed that the XRP price could drop to $1.5 if it fails to break and hold above the $2.42 price level. This came as she noted that XRP is attempting to reclaim the consolidation pattern it broke down from.
The crypto analyst further remarked that XRP needs to break and hold the trendline at $2.42 as support to keep the bullish momentum alive. She added that it is very critical for this to happen or a retest of $2 or $1.54 could be in play.
CasiTrades’ analysis comes just as crypto analyst Egrag Crypto predicted that the XRP price could reach $30 by May this year. The analyst alluded to historical trends to prove why the crypto could reach this price target.
Analysis Of The Current Price Action
CasiTrades also gave an in-depth analysis of the current XRP price action. She noted that the crypto has seen a retracement of the move that followed Donald Trump’s announcement that XRP will be included in the crypto strategic reserve. However, the crypto analyst added that the overall market structure remained valid.
CasiTrades also stated that XRP held above W1 territory and did not make a new low. She remarked that the bigger picture still supports a wave 4 correction playing out, targeting a new high.
Meanwhile, the crypto analyst revealed that bullish divergences across timeframes are still intact and that the Relative Strength Index (RSI) is maintaining its uptrend from the $2 low. In line with this, CasiTrades stated that the next upside targets are $2.70 and $3.05. She noted that these are crucial levels before market participants can consider talking about new all-time highs (ATHs) for the XRP price.
In the meantime, if XRP fails to hold above $2.42, CasiTrades stated that the crypto could see a test of $2.20, which is a key subwave support level. A deeper retracement could take XRP back towards $2 or $1.54 if sellers take control. However, the crypto analyst said that she is still favoring the bullish scenario until there is a clear invalidation.
According to CasiTrades, the market is looking for buyer confirmation and this $2.42 level will decide if the XRP price moves higher from here of if there is need for more correction.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Ethereum price briefly dipped under $2,000 for the first time in over a year as on-chain data points to a gloomy future. Pundits say Ethereum could be on a death march toward $1,000 in a steep decline that has left speculators scratching their heads.
Ethereum Price Could Be Headed To $1,000
Ethereum (ETH) woes appear to be worsening following a dip in prices below $2,000 since December 2023. Ethereum price touched $1,996 before staging a valiant climb back to $2,135, triggering concerns over its future direction.
On-chain data is grim for the largest altcoin with several indicators pointing toward a downward trend. Ethereum’s weekly RSI is at its lowest ebb for the first time since 2022 at 35.84. Similar RSI levels in 2022 saw the asset price fall even further by a staggering -60%.
Analysts say that the Ethereum price could fall to $1,000 given similar market conditions in 2022. The slip below $2000 follows an earlier dip below $2,200, leaving its parallel channel which experts say could induce correction to $1,600.
Ethereum’s triple-top pattern in its weekly chart is indicative of a 60% decline as bears have a field day. A 60% decline at current levels will see Ethereum price dip below the $1,000 mark.
Ethereum Is On Course To Record Its Worst Q1
The largest altcoin has endured a wave of negative sentiments since the start of 2025. Ethereum price has fallen by nearly 40% from its high of $3,300 at the start of the year.
A drop to $1,600 will see Ethereum record its worst Q1 performance, dwarfing the lows of the first quarter of 2024. US Ethereum ETFs recorded massive outflows while ETHA share price shed 38.59% since the start of the year.
While institutional interest around ETH sinks, the asset’s proposed inclusion into the US Crypto Strategic Reserve did little to stave off the massive decline. Despite the grim outlook, some pundits say the decline presents a buying opportunity for long-term investors.
“We are going into the undervaluation zone,” said the pseudonymous Venturefounder on X (formerly Twitter).
Aliyu Pokima
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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