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Cardano (ADA) has been under intense selling pressure, leaving investors questioning its future. After reaching highs above $1.20, the price has taken a significant downturn, now trading around $0.617. With the market sentiment growing increasingly bearish, many are wondering: Is ADA headed for a full collapse, or is this a temporary correction before a rebound? The recent price drop has brought ADA dangerously close to key support levels. If these levels fail to hold, the possibility of further downside could become a reality. However, technical indicators suggest that ADA might be in oversold territory, hinting at a potential recovery. In this article, we will analyze Cardano’s current price action, key support and resistance levels, and technical indicators to determine whether ADA is at risk of crashing further or if a reversal is on the horizon. Let’s dive into the charts to uncover the next potential move for Cardano! Cardano (ADA) has been struggling with bearish momentum after a strong rally that saw it reach highs above $1.20. Currently, the price is trading around $0.617, showing a sharp decline in recent weeks. With the price now approaching critical support levels, investors are left wondering whether ADA is set for a recovery or if it will continue to spiral downwards. Examining the daily chart, the downward trend is clear, with lower highs and lower lows forming. The price is testing a key support zone that has historically acted as a strong barrier against further decline. The question now is whether this level will hold or if ADA is headed for a deeper collapse. One of the most crucial levels to watch is the $0.60 support zone . This level has played a significant role in the past, acting as a strong base before major price recoveries. If ADA manages to hold above this level, it could see a bounce, leading to a short-term recovery. However, if bears push the price below this mark, the next major support lies around $0.40-$0.45, and failing that, a retest of the $0.20 region is possible. The presence of a lower support near $0.20 suggests that if a breakdown occurs, ADA could see an extended period of bearish pressure. This level aligns with historical price action where accumulation previously occurred. A break below $0.20, while unlikely in the short term, would signal a major structural collapse in Cardano’s price. The Relative Strength Index (RSI) on the daily chart is currently at 26.66, which is well into the oversold territory. Typically, an RSI below 30 suggests that the asset is undervalued, and a reversal could be imminent. However, in strong downtrends, assets can remain oversold for extended periods before recovering. If RSI starts showing bullish divergence—where price makes lower lows, but RSI begins to rise—this could indicate that selling pressure is weakening, and a reversal might be on the horizon. Until then, traders should be cautious about assuming the downtrend is over. For ADA price to regain bullish momentum , it must break above key resistance levels. The first major resistance is around $0.80, which was a previous consolidation area. If bulls can push ADA above this level, the next target would be around $1.00-$1.20, where the price previously faced strong rejection. However, if ADA remains below $0.80, it suggests that bears are still in control, and the recovery might take longer. A break above this range would confirm a bullish reversal and could set the stage for a larger rally toward new highs. While ADA is currently facing significant bearish pressure, the $0.60 support level will be crucial in determining its next move. A bounce from here could see a recovery towards $0.80 and beyond. However, a breakdown below this level could open the doors for further downside toward $0.40 or even $0.20. The oversold RSI suggests that a relief bounce is likely, but confirmation from price action is needed before declaring a trend reversal. While a complete crash to zero is highly unlikely, ADA remains in a critical zone where bulls must step in to prevent a further downtrend. Investors and traders should keep a close eye on key levels and volume signals before making any moves, as volatility remains high in the cryptocurrency market.

Olumide Osunkoya has been sentenced to four years in prison for illegally operating cryptocurrency automated teller machines in the United Kingdom. The 46-year-old faced charges related to running crypto ATMs through his company, GidiPlus, with machines installed at multiple locations across the UK. According to authorities, Osunkoya set up a £2.5 million ($3.2 million) crypto ATM business despite being denied registration by the Financial Conduct Authority. The FCA filed charges against him in early September 2024, and he pleaded guilty to six counts on September 30, 2024. On Feb. 28, the court convicted him of unregistered crypto activity, forgery, possession and use of false identity documents, and criminal property possession. Court documents revealed that Osunkoya operated his unregistered crypto business between December 2021 and March 2022. The FCA noted that he made significant profits, charging markup fees between 30% and 60% on transactions. “Your decision to continue to operate illegally was an act of deliberate and calculated defiance to the regulator,” His Honour Judge Perrins said during sentencing. The judge further noted that Osunkoya went to “great lengths to create a false identity,” making his case more than a mere regulatory breach. “This is the UK’s first criminal sentencing for unregistered crypto activity and sends a clear message: those who flout our rules, seek to evade detection and engage in criminal activity will face serious consequences,” said Therese Chambers, executive director of enforcement at the FCA. Osunkoya’s guilty sentence comes as the FCA looks to intensify its crackdown on illegal crypto related operations and services. The financial markets watchdog mandates all providers seeking to offer digital asset services and products in the country to register. FCA also requires that providers adhere to anti-money laundering guidelines and checks, a fact the agency says the crypto ATM provider failed to comply with. Per the markets regulator, its crackdown on illegal crypto teller machines saw the number of UK crypto ATM locations on CoinATMRadar fall from 80 in 2022 to zero in 2024. Details on the CoinATMRadar website shows there are currently over 37,200 crypto ATMs in 69 countries. Most of these machines are installed in the United States, which has over 29,700 locations.

Bitlayer has taken a major step in integrating Bitcoin with the broader blockchain ecosystem by implementing BitVM, a new framework designed to enable trust-minimized Bitcoin interoperability. Through partnerships with Base , Starknet, Arbitrum ( ARB ), Sonic, and Plume Network, Bitlayer’s BitVM Bridge aims to expand Bitcoin’s ( BTC ) utility across decentralized finance and real-world asset applications, according to a press release shared with crypto.news. Base’s cbBTC will allow Bitcoin holders to use their assets on EVM-compatible chains, bringing Bitcoin into the broader DeFi ecosystem. Arbitrum users will now be able to bridge Bitcoin assets through Bitlayer’s trust-minimized framework , further strengthening the network’s DeFi landscape. Meanwhile, Starknet, a permissionless zero-knowledge rollup, will integrate with Bitlayer to facilitate seamless Bitcoin transfers while maintaining security and scalability. Plume Network, the first full-stack Layer 1 blockchain focused on real-world assets, will leverage Bitlayer’s integration to unlock Bitcoin’s liquidity for institutional-grade financial products. This move aligns with Plume’s mission to bridge traditional finance with blockchain technology. Sonic, a high-performance Solana Virtual Machine chain, will integrate BitVM to bring Bitcoin liquidity to Web3 applications, including gaming and social media platforms. Bitlayer aims to unlock Bitcoin’s $1.9 trillion liquidity, enabling new financial use cases. BTC holders will have access to yield farming, lending, borrowing, and staking opportunities across these chains. These integrations position Bitcoin as a major driver of DeFi adoption, bringing more utility to its traditionally static liquidity. Bitlayer plans to continue expanding the BitVM ecosystem by partnering with additional blockchain networks and DeFi protocols.

The crypto market is undergoing a shift. According to Eleanor Terrett , a crypto asset manager outlined three key cohorts of investors. First, there are the crypto enthusiasts who actively engage with the space daily. Second, mainstream self-directed investors see crypto occasionally but rarely engage in trading. Third, institutional investment professionals observe crypto from a strategic perspective. The market sentiment has taken a hit as category one investors, the largest segment, are not seeing immediate catalysts for growth. With regulatory clarity improving but no immediate hype drivers, the market has entered an unexciting phase. Chris Burniske emphasized that crypto has moved beyond its ideological phase. Now, the industry must focus on execution and large-scale adoption. While the space has been obsessed with discovering the “next big thing,” it is now transitioning into a phase of practical implementation. Consequently, the industry must prioritize efficiency, infrastructure, and user experience rather than speculative hype. Moreover, blockchain applications like global savings accounts and near-zero fee transactions require time to refine. Institutional adoption remains crucial , but major players are only now beginning to deploy solutions at scale. Hence, the industry must embrace this execution phase to drive sustained growth. Historically, the crypto sector thrived on speculation, fueled by constant innovation and market excitement. However, the current stage demands reliability and usability. The early years involved concepts that transformed disbelief into belief. Now, the focus is on making blockchain solutions mainstream and practical. Additionally, regulatory progress has encouraged institutional participation . As a result, financial institutions now view blockchain as a viable infrastructure rather than an experimental technology. This shift signifies that crypto is moving toward becoming an integrated financial system rather than a speculative playground. Burniske pointed out that early crypto systems were like “toys.” The industry must now refine and scale them into real-world solutions. Furthermore, while ideological investors may seek new frontiers, the market’s stability depends on long-term adoption and consistent execution. DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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