Cardano (ADA) Stands Strong at $0.70, Bulls Defend Key Support Level
Despite recent price fluctuations, Cardano (ADA) remains resilient, holding its ground at the critical $0.70 mark.
Cardano’s Dramatic Price U-Turn: Defending $0.70
Cardano (ADA), a leading blockchain platform, has recently experienced a sharp reversal in its price action. After an impressive four-day rally, ADA reached a high of $0.746 on April 24, 2025, only to face a decline in the following days. As of now, Cardano is on track to post its third consecutive day of losses unless it can recover by the end of today’s trading.
Despite the market pullback, Cardano bulls have successfully defended the psychological $0.70 level, which has proven to be a strong support zone. This price point is especially important, as it lies between the daily 50-day SMA ($0.674) and the 200-day SMA ($0.764), making it a crucial battleground for bulls and bears alike. The ability to hold above $0.70 signals that buyers are still in control, preventing a deeper price correction, at least for now.
What’s Next for ADA?
The $0.70 level has proven to be a formidable support for Cardano, but the coming days will be key in determining ADA’s next move. If Cardano can maintain its position above $0.70, the bulls may target the next resistance level at $0.764, which is the 200-day SMA. Should the price rise above this level, $1 could be the next milestone.
However, failure to sustain above $0.70 would expose ADA to potential declines. The next support levels could be found at the 50-day SMA at $0.674 and, if the decline continues, around the $0.60 mark.
Cardano Network Updates: Strong Growth Amid Market Volatility
While Cardano’s price action has been subject to volatility, the underlying Cardano network continues to show impressive growth. According to the latest update from Input Output Global (IOG), there are now 1,993 projects being built on the Cardano blockchain. This strong development activity highlights the ongoing fundamental strength of the network, despite short-term price fluctuations.
Moreover, Cardano’s token activity remains robust, with 10.77 million native tokens and 212,489 token policies issued. The rise in smart contract adoption is also notable, with 131,015 Plutus scripts and 6,492 Aiken scripts deployed on the network. Additionally, Cardano has processed a total of 108.73 million transactions, indicating strong network usage and growth.
In terms of governance, 1,261 DReps (decentralized representatives) are registered, with 935 actively participating, signaling a 0.49% growth in decentralized representation.
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