Cardano Soars Past $1, Bucking The Broader Market Trend

Name	Symbol	Market	Market Cap ($)	Algorithm
Optimism	OPUSD	Crypto	2,610,546,621	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Optimism

OPUSD

Crypto

2,610,546,621

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.020	0.97%	2.08	2.08	2.08

Price Change

Price Change %

Current Price

Bid Price

Offer

0.020

0.97%

2.08

High Price	Low Price	Open Price	Prev. Close	52 Week Range
2.10	2.03	2.06	2.06	1.06 - 4.86

High Price

Low Price

Open Price

Prev. Close

52 Week Range

2.10

2.03

2.06

1.06 - 4.86

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	20:06:38	364.43	2.08	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

20:06:38

364.43

2.08

USD

Price x Volume	Volume	Base Symbol	Related Pairs
2,168,163.21	1,046,626.31	OP	OPEUR	OPGBP	OPBTC

Price x Volume

Volume

Base Symbol

Related Pairs

2,168,163.21

1,046,626.31

OPEUR

OPGBP

OPBTC

Cardano Soars Past $1, Bucking The Broader Market Trend

03/01/2025 8:30pm

NEWSBTC

In a notable show of strength amid an otherwise subdued market, Cardano (ADA) has climbed above the psychologically significant $1 mark today, January 3. Over the past 24 hours, ADA has surged by more than 11%, outpacing the mostly flat performances of other top cryptocurrencies, including Bitcoin. Within the top 100 assets by market capitalization, only Murad-memecoin SPX6900 (SPX) has registered a higher 24-hour gain, rising 30%. Over the last seven days, ADA is up approximately 20%. Although the jump appears to have come without any immediate catalyst, Cardano’s roadmap is poised for several notable protocol enhancements in the coming months. Among them are a Bitcoin-centric decentralized financial ecosystem and ongoing initiatives aimed at improving Cardano’s scalability, decentralization, and interoperability with other networks. Related Reading: Cardano Holds Crucial Support At $0.77 – Massive Rally Ahead? These fundamentals suggest that the current price action may be underpinned by broader optimism about the network’s evolution, although technical factors seem to be the primary driver. “ADA pushing through resistance like its butter. This momentum is truly explosive. Pay attention to key resistance levels, this one wants to go higher,” crypto analyst Satoshi Stacker (@StackerSatoshi) stated via X. Cardano Price Analysis On January 1, ADA/USDT decisively broke out of a multi-week downward trendline that originated at the December 2 high near $1.32. This trendline had been tested repeatedly until late December, before finally succumbing to strong bullish momentum. Following the initial breakout, ADA briefly retreated to around $0.87, only to bounce back in a textbook retest that validated the trendline breach. Supporting the bullish narrative, Fibonacci retracement levels anchored at the December 2 high ($1.32) and December 20 low ($0.76) reveal a constructive technical backdrop. The 0.236 Fib at $0.89 served as a launching pad once the trendline break was confirmed, while the 0.382 Fib ($0.97) initially rejected prices on January 2, before later giving way to further upside. Related Reading: On-Chain Metrics Reveal Cardano Whales Are ‘Buying The Dip’ – Details Subsequently, ADA surpassed the 0.50 Fib ($1.04), and this level may now act as immediate support on any minor pullbacks. The 0.618 Fib ($1.11) is the next key hurdle if bullish momentum persists, with the 0.786 Fib ($1.20) and the 1.0 Fib ($1.3282) potentially coming into play if the rally extends into the near-to-mid term. From a moving averages perspective, ADA has climbed above its 20, 50, 100, and 200 exponential moving averages on the four-hour chart. Notably, the 20 and 50 EMAs have crossed above their 100 and 200 counterparts, which indicates momentum has shifted in favor of the bulls. The volume picture further supports the breakout scenario, with 24-hour trading volume up 14.94% to $1.67 billion. A look at the Relative Strength Index (RSI) on the four-hour timeframe shows a reading of around 80, placing ADA firmly in overbought territory. This demonstrates solid buying pressure but also suggests a possibility of a short-term pullback should traders opt to take profits. Featured image from Shutterstock, chart from TradingView.com

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