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Cardano (ADA) Rallies by 60% Following Crypto Reserve Inclusion

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Cardano (ADA) has experienced a major price surge, rallying 60% after struggling for six weeks in a downtrend.

The recent announcement of US President Donald Trump’s Crypto Reserve, which includes Cardano, acted as a key catalyst for this price movement, pushing ADA back above the $1 level for the first time in over a month.

Cardano Investors Recover Their Losses

The MVRV Long/Short Difference indicator shows a significant uptick, suggesting that the profit margins of long-term holders (LTHs) have surged. LTHs typically act as the foundation for any cryptocurrency’s price stability. When LTHs are profiting and choosing to hold rather than sell, it prevents price drops and instead supports price increases.

This behavior aligns with the recent price surge, as long-term holders are choosing to hold ADA, reinforcing the bullish momentum.

The increased LTH profits signify strong investor confidence in the asset’s long-term prospects. This, in turn, suggests the rally may be more than just a short-term price movement but rather the beginning of a more sustained uptrend.

Cardano MVRV Long/Short Difference
Cardano MVRV Long/Short Difference. Source: Santiment

The Relative Strength Index (RSI) for Cardano has entered the overbought zone, which is traditionally a bearish sign indicating potential price reversals. However, historical data on ADA reveals that a rise into the overbought zone has often signaled the continuation of upward momentum, not a reversal. This suggests that despite the overbought indication, Cardano could still continue its rally.

Given that previous instances of RSI entering overbought territory have led to price increases for ADA, the current scenario indicates that Cardano may continue to rise. This momentum, if sustained, could drive ADA to further highs despite the typical bearish nature of overbought conditions.

Cardano RSI
Cardano RSI. Source: TradingView

ADA Price Is Rallying

At the time of writing, Cardano’s price is up 60%, trading at $1.06. This marks a significant recovery after the altcoin had struggled below the $1 mark for six weeks. The price increase is a direct result of the market’s reaction to Trump’s announcement, with ADA making a strong push above $1. This level is crucial as it marks a psychological threshold for both traders and investors.

The breakout above the $1 barrier is a sign that ADA may be gearing up for further rallies. For Cardano to maintain its upward momentum, it needs to secure $1.00 as a reliable support level. A failure to hold this level could lead to a loss of momentum and a return to lower price levels. 

Cardano Price Analysis.
Cardano Price Analysis. Source: TradingView

If Cardano fails to maintain support at $1.00, it could fall back toward the next key support level at $0.85. This would invalidate the current bullish outlook and set back the potential recovery. However, maintaining support at $1.00 would solidify the rally and pave the way for further price increases.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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10 Altcoins at Risk of Binance Delisting

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On April 3, Binance announced that it would add a new set of tokens to its monitoring list. These tokens are under closer scrutiny and may face delisting following the upcoming review period.

This move follows the exchange’s aims to increase transparency while offering more clarity regarding the risk levels associated with different cryptocurrencies.

10 Altcoins in Danger of Binance Delisting

As part of this update, the following tokens will be added to the Monitoring Tag list: Ardor (ARDR), Biswap (BSW), Flamingo (FLM), LTO Network (LTO), NKN (NKN), PlayDapp (PDA), Perpetual Protocol (PERP), Viberate (VIB), Voxies (VOXEL) and Wing Finance (WING).

Tokens added to the Monitoring Tag exhibit notably higher volatility and risk compared to other listed tokens. Binance will closely monitor these tokens, with regular reviews to assess their compliance with the platform’s listing criteria.

“Tokens with the Monitoring Tag are at risk of no longer meeting our listing criteria and being delisted from the platform,” Binance said.

Following the announcement, the prices of the mentioned altcoins plummeted by double-digits.

ARDR, BSW, FLM, LTO, NKN, PDA, PERP, VIB Price Performance.
ARDR, BSW, FLM, LTO, NKN, PDA, PERP, VIB Price Performance. Source: TradingView

In addition to the new Monitoring Tag additions, Binance will also remove the Seed Tag from Jupiter (JUP), Starknet (STRK), and Toncoin (TON).

Tokens marked with the Seed Tag are those that are still in their early stages of development and have not yet met Binance’s full listing criteria. The removal of the Seed Tag indicates a change in the status of these projects. This suggests that they no longer fit the initial criteria for such a label.

Tokens with the Monitoring Tag or Seed Tag come with inherent risks. Binance ensures that users are well-informed before trading them. To access trading for these tokens, users must pass a risk awareness quiz every 90 days.

The quiz makes sure that users understand the potential risks associated with trading higher-risk tokens. Binance will also display a risk warning banner for these tokens on its Spot and Margin platforms.

Binance will continue to conduct periodic reviews of tokens with the Monitoring Tag and Seed Tag. During these reviews, several factors are taken into account. This includes the project team’s commitment, development activity, token liquidity, and community engagement.

The latest development follows a similar announcement from Binance in March. The exchange routinely delists tokens that fail to keep up with its criteria.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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HBAR Foundation Eyes TikTok, Price Rally To $0.20 Possible

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Hedera (HBAR) has faced a downtrend recently, with the crypto asset’s price failing to maintain support at $0.200. This failure to establish a solid base has led to a pullback. 

However, key developments within the Hedera ecosystem and shifting investor sentiment could spark a potential price rally in the coming days.

HBAR Foundation Eyes TikTok

After nearly a month of bearish sentiment, investors are beginning to shift their stance towards bullishness. The Hedera Foundation’s recent move to team up with Zoopto for a late-stage bid to acquire TikTok has played a pivotal role in this shift. If the acquisition is approved, the partnership could expose HBAR to a massive audience due to TikTok’s extensive user base, potentially driving up demand and mainstream adoption.  

The prospect of this collaboration has reignited interest among investors, sparking optimism about Hedera’s future growth potential. With TikTok’s wide-reaching influence, the strategic partnership could offer Hedera an edge in the competitive crypto market, encouraging further accumulation of HBAR tokens.

HBAR Investor Sentiment
HBAR Investor Sentiment. Source: Santiment

On the technical front, the Chaikin Money Flow (CMF) indicator is showing signs of recovery. The CMF has started to tick upwards, signaling a potential increase in inflows. While it hasn’t yet crossed above the zero line, the growing positive momentum indicates that more capital could be entering the market. Continued inflows could provide the necessary push for HBAR to break through key resistance levels.

The increase in capital flow suggests a strengthening of investor confidence. However, for a sustained rally, more substantial buying pressure will be required to move HBAR above its current price point. If this trend continues, HBAR may see a rise in both investor interest and market value in the near future.

HBAR CMF
HBAR CMF. Source: TradingView

HBAR Price Finds Support

Currently, HBAR is priced at $0.161, just under the key resistance level of $0.165. The next significant resistance lies at $0.197, which has acted as a barrier to HBAR’s price recovery. With a 22% gap between the current price and this resistance, overcoming this hurdle could pave the way for a move toward $0.200.

Given the positive developments surrounding Hedera, it is plausible that HBAR could move toward these resistance levels. If the token can breach $0.165 and then $0.177, the path to $0.197 becomes much clearer. This would mark a critical point for HBAR as it seeks to regain lost ground.

HBAR Price Analysis
HBAR Price Analysis. Source: TradingView

However, if investors decide to take profits and sell before further upward movement, HBAR could fail to breach the $0.177 resistance. Such a scenario could push the price back down towards $0.154 or $0.143, invalidating the bullish outlook and prolonging the consolidation phase.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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IP Token Price Surges, but Weak Demand Hints at Reversal

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Story’s IP is today’s top-performing asset. Its price has surged 5% to trade at $$4.37 at press time, defying the broader market’s lackluster performance.

However, despite the price uptick, the weakening demand for the altcoin raises concerns about its rally’s sustainability.

IP Price Rises, But Falling Volume Signals Weak Buying Momentum

IP’s daily trading volume has plummeted by 7% over the past 24 hours despite the token’s price surge. This forms a negative divergence that hints at the likelihood of a price correction.

IP Price/Trading Volume
IP Price/Trading Volume. Source: Santiment

A negative divergence emerges when an asset’s price rises while trading volume falls. It suggests weak buying momentum and a lack of strong market participation. 

This indicates that the IP rally may not be sustainable, as fewer traders are backing its upward move. Without sufficient volume to reinforce the price increase, the altcoin is at risk of a potential reversal or correction.

Further, IP’s Moving Average Convergence Divergence (MACD) setup supports this bearish outlook. As of this writing, the token’s MACD line (blue) rests below its signal line (orange), reflecting the selling pressure among IP spot market participants.

IP MACD
IP MACD. Source: TradingView

The MACD indicator measures an asset’s trend direction and momentum by comparing two moving averages of an asset’s price. When the MACD line is below the signal line, it indicates bearish momentum, suggesting a potential downtrend or continued selling pressure.

If this trend persists, IP’s recent 5% price surge may lose steam, increasing the likelihood of a short-term correction.

IP’s Bearish Structure Remains Intact – How Low Can It Go?

On the daily chart, IP has traded within a descending parallel channel since March 25. This bearish pattern emerges when an asset’s price moves within two downward-sloping parallel trendlines, indicating a consistent pattern of lower highs and lower lows. 

This pattern confirm’s IP prevailing downtrend, suggesting continued bearish pressure unless a breakout above resistance occurs.

If the downtrend strengthens, IP’s price could break below the lower trend line of the descending parallel channel and fall to $3.68.

IP Price Analysis
IP Price Analysis. Source: TradingView

On the other hand, if the altcoin witnesses a spike in new demand, it could break above the bearish channel and rally toward $5.18.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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