NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: WLFI Price Dips 7% As Eric Trump Leaves World Liberty Treasury Company ALT5 Sigma
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: WLFI Price Dips 7% As Eric Trump Leaves World Liberty Treasury Company ALT5 Sigma

Cardano Price Erases Breakout Pop by Half, Faces Bearish H&S Risks

Yashu Gola
Yashu Gola
4 years ago
2 mins read
Cardano, ADAUSD, ADAUSDT, ADABTC, cryptocurrency

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Cardano gained some positive traction in the early European trading hours Friday after erasing more than half of its bullish breakout move in the previous session.

The blockchain asset, better known by its ticker ADA across markets, climbed more than 2.25 percent to $1.25 into the ongoing intraday session. Its move uphill started near a session low of $1.178. At its intraday high, ADA was changing hands for as much as $1.298. The $1.178-1.298 range pretty much made for the trading area on Friday.

Nonetheless, the area appeared way below ADA’s week-to-date high achieved on Thursday. The Cardano token surged to $1.498 in a bullish move that appeared after it broke out of a technically bullish pattern — a Descending Triangle with an upside target near $1.50 (NewsBTC discussed the bullish theory here).

A strong upside rejection near $1.50 triggered a cascade of selling orders, crashing ADA down by more than 21.50 percent. The downside correction nearly wiped out half the bullish breakout move, underscoring that ADA needs to rebuild its bullish momentum near lower levels or risks extending its bearish correction even further.

Strong Cardano Fundamentals Meet Worrisome Technicals

So far, Cardano as a blockchain project has everything working in its favor. The protocol has grown into the conscience of traders who see it as a viable alternative to Ethereum, another blockchain project loaded with smart contract functionalities but suffering high transaction and gas fees issues.

Its growing prominence has led ADA higher by more than 600 percent in 2021 and 4,000 percent on a year-on-year timeframe. Meanwhile, Cardano’s latest protocol upgrade to “Mary” has enabled users to issue their unique tokens, including the booming non-fungible tokens (NFT), which has added further fuel to ADA’s bullish bias.

But short-term—technically—the Cardano token flirts with the prospect of declining further. It is in the middle of creating a Head and Shoulder, a structure that appears as a baseline with three peaks, the outside two are close in height, and the middle is highest. ADA ticks all three factors but awaits further confirmation as it hopes to trend lower towards the baseline to attempt a bearish breakout.

Cardano, ADAUSD, ADAUSDT, ADABTC, cryptocurrency
Cardano hints at H&S breakdown. Source: ADAUSD on TradingView.com

Should a decline appear, the ADA price would risk crashing by as much as the middle peak’s height. The candlestick(s) is about 0.32 dollars long. That puts the head and shoulder pattern’s breakout target to near $0.85.

Tweet123Share196ShareSend
Yashu Gola
Yashu Gola

Yashu Gola

Yashu Gola is a Mumbai-based finance journalist. He is profoundly active in the bitcoin space since 2014 – and has contributed to several cryptocurrency media outlets, including NewsBTC, FxDailyReport, Bitcoinist, and CCN.

Read more

Academically, Yashu holds a bachelor's in information technology, with majors in data structures and C++ programming language. He has also won the 'Atulya Award' for his efforts towards raising $100,000 for an India-based farming project.

Close

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Cardano

Cardano Pushes Past $0.85: Falling Wedge Breakout Confirmed?

Cardano has just seen a surge beyond the $0.85 mark, potentially confirming a bullish breakout forming in the asset’s 4-hour...

Keshav Verma 1 day ago
ethereum

Ethereum Marches Upward Without Leverage Overheating – Sign Of Structural Health?

As Ethereum (ETH) trades slightly above $4,300, some crypto analysts opine that the cryptocurrency’s current trend shows enough structural health....

Ash Tiwari 1 day ago
Santiment

Santiment Highlights Top Tokens: Bitcoin, Ethereum, And Dogecoin Dominate Social Buzz

Conversations across the crypto space are circling back to blue-chip tokens, with Bitcoin, Ethereum, and Dogecoin taking the spotlight. Data...

Scott Matherson 2 days ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Bitcoin Holds $112,000 Support As Binance Whale Activity Cools Off – What’s Ahead?

Ash Tiwari 34 minutes ago
Solana

No Chain Comes Close: Solana Leads With 2.5x Ethereum’s Revenue

Christian Encila 1 hour ago
Crypto

This Week In Crypto: What Investors Need To Know And Why It Matters

Ronaldo Marquez 21 hours ago

Premium Sponsors

Press Releases

  • LET Mining

    LET Mining: The leading cloud mining platform, helping XRP...

    5 hours ago
  • miner

    XRP Forecast: ALL4 Mining Launches Upgraded App to Ensure...

    9 hours ago
  • První mine-to-earn meme coin PepeNode získal 900 000 $ v předprodeji – zbývá jen 7 hodin ve fázi financování

    První mine-to-earn meme coin PepeNode získal 900 000 $ v...

    12 hours ago
  • ドージコイン 今後の可能性:TradFiが注目する0.50ドルの壁とは

    ドージコイン...

    12 hours ago
  • Meme coinok visszatérnek a játékba: a Snorter Bot Token (SNORT) előértékesítése meghaladja a 3,8 millió dollárt

    Meme coinok visszatérnek a játékba: a Snorter Bot Token...

    12 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.