Can Cardano Reclaim $1? Analyst Says ADA Price Must Hold This Crucial Level

Cardano (ADA)s price continues to move sideways, holding its range for the past 10 days, while online sentiment grows. Some analysts suggest that a retest of the local resistance could be near if the cryptocurrency holds its crucial support zone. Related Reading: Crypto Sleuth Claims Mysterious $20M Hyperliquid Whale Is Tied To Illicit Activity Cardano Holds Key Range Cardano has retraced 40% from its two-month high of $1.17, dropping to the $0.7 range over the past few weeks. ADA climbed 80% on March 2 after US President Donald Trump announced a Crypto Strategic Reserve, including the cryptocurrency, which sent the token to monthly highs. After its massive pump, the altcoin retraced to $0.9, holding this zone through the following days. However, the March 6 executive order establishing a Strategic Bitcoin Reserve and a Digital Asset Stockpile sent ADA below the crucial level. At the time, the White Houses Crypto Czar, David Sacks, clarified that the ADA and the other altcoins named were just used as a reference for the top cryptocurrencies in the market. Since then, Cardano has moved sideways, hovering between $0.68-$0.75. ADA dropped to $0.64 during the March 11 market crash before bouncing. Despite the ongoing price action, online sentiment has been positive towards ADA this week. On Tuesday, on-chain analytics firm Santiment pointed out that Cardano saw a highly positive sentiment on social media. The bullish sentiment was fueled by the Securities and Exchange Commission (SEC) classification of ADAs use case as smart contracts for government services. The news pushed bullishness to its highest rate in over 4 months, the firm noted. Moreover, large-scale investors have also shown positive sentiment toward Cardano, with Whales purchasing around 190 million ADA tokens in the past 48 hours. ADA Breakout Or Breakdown Next? ADA has been in a downtrend since December 2024, when it hit its 3-year high of $1.32. The February market retraces sent the cryptocurrencys price below several crucial support zones, with the token hovering between the $0.60-$0.80 price range. Analyst Sjuul from AltCryptoGems noted ADA has a weird-looking chart, mainly due to the announcement of the strategic reserve. As a result, Cardanos most crucial support level is at $0.66, as it could send it to monthly lows. According to the analyst, That level should hold; otherwise, all this recent price action will result in a distribution phase. Previously, Sjuul affirmed Cardanos chart displayed a Power of 3 in the making, signaling that the cryptocurrency was entering the third phase. This pattern divides the price cycle into three phases: accumulation, manipulation, and distribution. In the last phase, a strong price breakout occurs, with momentum building in the direction opposite to the manipulation. Based on this, if ADA lost the $0.66 mark, the token could see a significant price correction. Meanwhile, a pseudonym trader pointed out that the altcoin shows a bullish reversal after breaking out of a falling wedge pattern. Per the post, Cardano could enter a strong uptrend if it maintains its momentum. Related Reading: Bitcoin To Get Interesting As Price Retests $85,000 Here Are The Levels To Watch Nonetheless, ADA must hold the current support levels and break above the local resistance for confirmation of further bullish continuation to the $1.22 target. Analyst Ali Martinez noted that ADA trades within a right-angled descending wedge, with the upper trendline at $1.15. He suggested that a daily close above $1.15 would push ADAs price to the $2 mark, not seen since 2021. Featured Image from Unsplash.com, Chart from TradingView.com

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Crypto Sleuth Claims Mysterious $20M Hyperliquid Whale Is Tied To Illicit Activity

Crypto detective ZachXBT alleged that the mysterious Hyperliquid whale thats been making headlines across the crypto community is suspected to be a convicted criminal from the UK. The trader has made around $20 million in profit from leveraged trading, raising questions about their identity. Related Reading: Bitcoin To Get Interesting As Price Retests $85,000 Here Are The Levels To Watch Mysterious Hyperliquid Whale Not A Crypto Insider On Thursday, ZachXBT shared an investigation revealing the Hyperliquid Whale as a British hacker previously charged with multiple crimes. The traders identity has been a hot topic among crypto investors over the past few weeks. According to the X thread, the trader was identified as William Parker, known as Alistair Packover, before he changed his name. Parker was arrested and sentenced in Finland in 2024 for stealing nearly $1 million from two online casinos in 2023. Since January 2025, the trader has made millions by opening several highly leveraged positions on Hyperliquid and GMX but gained attention this month for two specific trades. Right before US President Donald Trumps Strategic Crypto Reserve announcement on March 2, the whale opened a large Ethereum (ETH) and Bitcoin (BTC) long position on 50X leverage using address 0xe4d3. Following this trade, the crypto community speculated that the whale could be an insider, with some users alleging that the trader was linked to the Trump family due to their timing. Meanwhile, others suggested that the mysterious whale was tied to the North Korean hacking group Lazarus. The trader later opened a BTC short position on 40X leverage using address 0xf3F4, profiting $19 million from the two positions. After the whale closed its short position earlier this week, the crypto sleuth revealed that the trader was allegedly involved in illicit activity. Its funny watching CT speculate on the Hyperliquid whale when in reality its just a cybercriminal gambling with stolen funds, he initially responded to the speculation. Connecting The On-Chain Dots In the thread, ZachXBT shared four key counterparties of the 0xf3f address, including 0xe4d3, which he had identified. He also noted that the cluster was tied to Roobet, Binance, Gamdom, ChangeNOW, Shuffle, Alphapo, BC Game, and Metawin accounts. Additionally, the 0xf3f signed a message on-chain with an X account under the username @qwatio, which has seemingly been purchased recently. After the crypto detectives initial claims, the X user denied the cybercrime allegations and claimed the $20 million profits from the GMX and HL trades were clean and traceable on the blockchain. However, the on-chain investigator alleges that he would have to control the related wallets in this cluster for the $20M number to be accurate. Notably, an address in the cluster, 0x7ab, was found to have received funds from a phishing scam and an exploited casino game on Solana. Related Reading: SUI Ready For 15% Move Amid Key Level Retest Breakout Or Breakdown Ahead? Then, ZachXBT tracked down a recent payment from 0xe4d3 and obtained a UK phone number that seemingly connects the trader and the name William Parker. I tracked down a recent payment from 0xe4d3 to an unnamed person who confirmed they had been paid by the HL trader. They provided a UK phone number used to communicate with them. Public record reveals the name William Parker is likely tied to this number. The crypto sleuth concluded that Parker, who was also convicted three times in the early 2010s for crimes related to fraud, hacking, and gambling, has now gambled 6 figs into $20M using high leverage on-chain for the past two months, and will likely continue to do so. Featured Image from Unsplash.com, Chart from TradingView.com

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Former US President Donald Trump Warns of Economic Depression if He’s Not Elected

Former U.S. President Donald Trump has warned that the U.S. economy will face “more than a recession” if he is not elected president. Trump also made several other promises, including getting Russia’s President Vladimir Putin to make a deal with Ukraine’s President Volodymyr Zelenskyy “very quickly.” Donald Trump’s Warnings Former U.S. President Donald Trump made [...]

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