Cardano (ADA) delivered an unexpected price recovery after a widely recognized bearish signal appeared on its daily chart. The death cross, where the 50-day moving average falls below the 200-day moving average, traditionally signals extended downside pressure.
The indicator emerged during a broader crypto market downturn, which triggered liquidations totaling $1.44 billion in a single day. Despite that, ADA rebounded sharply from $0.51 and sustained its momentum throughout Monday’s volatile trading session.
Technical analysts are now monitoring the resistance zone between $0.70 and $0.73 as a potential breakout point. Key support holds between $0.40 and $0.51, providing a buffer against immediate downward pressure.
Source: Tradingview
If ADA pushes past the resistance range, the death cross signal could be invalidated in the short term. Traders watch for volume confirmation and consistent closes above resistance to confirm a possible trend reversal.
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Cardano Network Development Strengthens Fundamentals Amid Price Fluctuations
Input Output, Cardano’s main development team, reported continued growth across key network metrics in its March update. According to the team, nearly 2,000 projects are actively building within the Cardano ecosystem as of March 28.
Delegated wallet count increased by 4,000 in March, bringing the total to approximately 1.328 million wallets—the number of token policies expanded by 2,578, while over 30,000 native tokens were minted last month.
Smart contracts in Plutus scripts increased to 129,745 instances, of which 5,909 worked on Aiken code. The Lace v.1.21.0 update with node v.10.2.1 release enhanced tracing capabilities and started Ouroboros Genesis integration implementation.
System efficiency increased during a Leios performance test at a 3,000-node network due to optimized network infrastructure. Under Voltaire’s governance framework’s updates, the voting mechanism and budget procedures underwent modification.
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