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The Cardano price dropped 3% in the past 24 hours to trade at $0.7151 as of 3:59 a.m. EST on a 14% drop in trading volume to $1.2 billion.
This decrease in the ADA price comes as Charles Hoskinson asked on X if an ADA Gemini listing is happening.
Hey @Gemini we finally doing this?
— Charles Hoskinson (@IOHK_Charles) March 2, 2025
Cardano Price Could Still Soar
The daily chart of the ADA price shows a significant breakout from a descending wedge pattern. This pattern, typically a bullish reversal signal, played out with an explosive price surge, reaching a peak of around $1.20.
However, after the strong rally, the Cardano price has retraced sharply, now sitting at $0.7151, reflecting a period of consolidation, data from GeckoTerminal shows.
Currently, the price of ADA is hovering near the 200-day Simple Moving Average (SMA) at $0.6927, which is acting as strong support.
If this level holds, the price of Cardano could be prepare for another upward move. The 50-day SMA at $0.8038 is now the nearest resistance, and reclaiming this level would confirm renewed bullish momentum.
The recent ADA pullback suggests profit-taking after the breakout. However, if ADA can establish support above the $0.70 zone, it could regain strength for another bullish push.
Meanwhile, the Relative Strength Index (RSI) is currently at 45.62, indicating that ADA is neither overbought nor oversold. This suggests room for further movement in either direction, with a bias toward recovery if support holds.
The blue Moving Average Convergence Divergence (MACD) has also crossed above the orange signal line, a sign of a bullish crossover.
ADA Price Prediction
If the Cardano price holds above $0.70 and breaks $0.80, the next potential target is around $1.10 – $1.20, aligning with the measured move from the wedge breakout. This represents a 53% potential upside from the breakout zone.
However, failure to hold above $0.70 could lead to more downside consolidation before another breakout attempt. In such a scenario, ADA could plunge to the $0.62 support zone, which acts as a cushion against downward pressure.
Meanwhile, investors are buying into a new layer-2 Solana meme coin called Solaxy (SOLX). According to 99Bitcoins, a popular crypto YouTube channel with over 725K subscribers, Solaxy has the potential to soar 100X post-launch.
Solaxy Presale Raises Over $26 Million – Best Crypto To Buy Now?
Solana has been experiencing congestion problems during peak times, which makes transactions hang or fail.
To fix this, Solaxy was created to improve transaction speed and also reduce fees. This is similar to what Ethereum has done with some of its Layer-2 solutions like Arbitrum and Optimism.
Upcoming $SOLX @SOLAXYTOKEN looks to be a game changer. First ever layer 2 block chain technology unleashing full speed, scalability, reducing congestion on #Solana. Currently in recording breaking pre sale closing March 15, 2025 https://t.co/SKjCQEmoXN More in thread….. pic.twitter.com/5TDKOeCTSP
— Loot Loop (@LootLoopNews) February 18, 2025
Another massive utility of Solaxy is that it offers the best of both Ethereum and Solana. SOLX merges the benefits of Ethereum’s liquidity and growing decentralized finance ecosystem with Solana’s efficiency and speeds, thereby connecting the two most prominent crypto ecosystems in the Web3 space.
The Solaxy presale has already garnered over $26.09 million. Investors interested in participating in the presale can visit the official Solaxy website to buy SOLX tokens for $0.001662 each using BNB, ETH, USDT, or a bank card.
The project’s presale staking program also offers token holders a huge 156% APY. Anyone looking to buy SOLX at the best rate will want to hurry, because the token’s price will increase in around 30 hours.
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