Oh, Cardano (ADA), you cheeky little cryptocurrency! After a rocky few months, it’s finally showing signs of life—like a cat who’s been napping for hours and suddenly decides it’s time for a sprint. Analysts are throwing around the possibility of ADA reaching $0.80, but hold your horses. It’s not that simple.
According to the ever-dramatic crypto analyst Ali, Cardano might just be on track for a breakout toward $0.80—but there’s a tiny little thing standing in the way. It needs to clear this pesky “upper boundary resistance” of a channel. Sounds like a literal roadblock, doesn’t it? (It is.)
Ali went on to explain, “Cardano (ADA) looks poised for a breakout toward $0.80. But first, it needs to clear the upper boundary resistance of this channel.” So, in other words, Cardano’s gotta put in the work before it gets to the good stuff. Poor ADA, always the bridesmaid, never the bride.
Let’s zoom out and get the bigger picture (because, apparently, that’s what we’re doing today). Cardano’s daily chart is like an intense soap opera between the buyers and sellers, each of them hanging onto the daily moving averages at $0.669 and $0.783, respectively. It’s like a tug-of-war, but with less mud and more money. The tension is real, people.
But wait, there’s more! Thursday morning saw Cardano surge like an over-caffeinated squirrel, jumping from $0.67 to $0.7189. It even climbed back above the daily SMA 50, which it had fallen below since May 5. Talk about a comeback! As of now, ADA is up 4.59% in the last 24 hours to $0.7185—yes, you read that right. It’s trying, bless its heart.
But don’t get too excited, because if ADA climbs any higher, it might hit some selling at $0.75. If it manages to power through and close above $0.75, well, then it might just be on its way to the big $0.80 party. 🎉 But on the downside? There’s support at $0.58, and if ADA falls below that, it could go into a sad little downward spiral, eventually hitting $0.54 to $0.50. Oh, the drama!
Cardano Sees Growth
Now, don’t get too caught up in the doom and gloom of price predictions. There’s actually some exciting stuff happening behind the scenes. In a recent tweet, Cardano builder Input Output gave us the lowdown on the April development highlights. Spoiler alert: Things are looking up!
As of April 25, 2025, a whopping 1,993 projects are being developed on Cardano—almost 2,000! And if that’s not impressive enough, there’s been a rise of 2,000 in the number of delegated wallets. A little more than 1,500 new token policies, and—wait for it—40,000 new native tokens issued. It’s like a crypto carnival over here, and everyone’s invited!
Also, shout-out to Plutus scripts, which have increased by 1,270, bringing the total to 131,015. It’s like they’re multiplying in the best possible way. And if you’re into numbers, there’s 6,492 Aiken scripts in the mix. Impressive, right?
In other news, Node v.10.3.1 has been released, which brings performance improvements. This update is all about faster execution, less memory usage, and better synchronization. Honestly, if it could just fix my internet speed, that’d be great too. 🙄
And in the grand finale, Mithril has dropped its 2513.0 distribution, which supports Cardano node v.10.2.1. They’ve fixed bugs, made enhancements, and probably did some other techy wizardry we don’t understand. But we’ll take it!
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2025-05-08 15:12