{"id":125409,"date":"2025-03-19T18:21:10","date_gmt":"2025-03-19T18:21:10","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=125409"},"modified":"2025-03-19T18:21:10","modified_gmt":"2025-03-19T18:21:10","slug":"cardano-ada-on-verge-of-20-breakout-as-social-sentiment-indicator-hits-4-month-high","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=125409","title":{"rendered":"Cardano (ADA) on verge of 20% breakout as social sentiment indicator hits 4 month high"},"content":{"rendered":"

Source: Cointelegraph.com NewsCardano\u2019s (ADA) price has managed a steady 13.5% in March after experiencing a 32% dip in February. The altcoin is still down 15% in Q1, but technical data is beginning to point to the continuation of the recent positive price action.Cardano 1-day chart. Source: Cointelegraph\/TradingView
\nDespite ADA price moving sideways between $0.78 and $0.70 over the past 10 days, social sentiment related to the altcoin has hit a new year-to-date high.
\nCardano\u2019s \u201cbullish\u201d sentiment soars to 4-month high
\nAccording to Santiment, an onchain intelligence platform, Cardano\u2019s social sentiment exhibited its highest positive measurement in four months.
\nADA investors received a boost from the US Securities and Exchange Commission\u2019s (SEC) recent comments, which classified Cardano\u2019s use case as \u201csmart contracts for government services.\u201d The SEC statement was followed by ADA\u2019s highest ratio of positive comments since the first week of November 2024.
\nCardano\u2019s crowd sentiment score by Santiment. Source: X.comA rise in social sentiment is often aligned with increased trading activity and, at times, higher prices. In Q4 2024, a rise in positive social sentiment and active transactions went hand in hand for ADA. However, the environment is slightly different right now.
\nData from Cardanoscan.io showed a stark difference between the number of active transaction counts from early November 2024 and now. In Q4, the average transaction count remained above 100,000 for most of November and December, but currently, it is roughly down 70%, with the number of transactions coming in at 26,437 on March 18.
\nDaily transaction count and fees chart. Source: cardanoscan.ioRegardless of the weak onchain activity, Michael Heinrich, CEO of 0G Labs, told Cointelegraph that Cardano\u2019s strength lies in \u201clobbying\u201d its community. Speaking on ADA and XRP\u2019s inclusion in a US Digital Asset Stockpile, Heinrich said,
\n\u201cThey have time in the game: these tokens have been around for a while, they\u2019re liquid, and they\u2019re unlikely to spring any sudden surprises.\u201d
\nRelated: Cardano\u2019s ADA lands spot in US Digital Asset Stockpile \u2014 Will it generate value?
\nADA to rally 20% before the end of March?
\nIrrespective of the underwhelming onchain data, ADA price has been receptive to positive news in the past.
\nThe altcoin has maintained a position above the 0.50 Fibonacci retracement line despite ADA being in a downtrend since its 2024 high of $1.32. This indicates that ADA\u2019s high-time frame (HTF) chart remains on a technical uptrend.
\nADA\/USDT 1-day chart. Source: TradingViewCardano retained support from the ascending trendline (black line) while oscillating between its parallel channel. Currently, the immediate resistance lies at the upper range of the channel at $0.78, which is supported by the 200-day exponential moving average (200-DEMA, orange line). A positive candle close above the 200-DEMA on the daily chart indicates a bullish shift, potentially triggering a move above $0.78.
\nThe immediate target above $0.78 lies between 0.84 and $0.88, where a daily fair value gap (FVG) is present. A retest of $0.88 marks a 20% return from its current price.
\nHowever, historically, Cardano has exhibited prolonged sideways movement, which could limit immediate gains. A break above $0.78 validates further confirmation for a rally, but until then, the altcoin may continue to range between $0.78 and $0.70.
\nRelated: Bitcoin is just seeing a \u2018normal correction,\u2019 cycle peak is yet to come: Analysts
\nThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"

Source: Cointelegraph.com NewsCardano\u2019s (ADA) price has managed a steady 13.5% in March after experiencing a 32% dip in February. The altcoin is still down 15% in Q1, but technical data… <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/125409"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=125409"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/125409\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=125409"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=125409"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=125409"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}