Ethereum News Today: Cardano's Price Stuck Between Bullish Hope and Bearish Reality

Cardano (ADA) has entered a Wyckoff markup phase, with the price stabilizing above $0.80 amid mixed on-chain and technical signals. ADA’s price reached $0.83 at press time, reflecting a 1.1% gain over the previous 24 hours. On-chain metrics, however, suggest weakening bullish momentum, as the Network Realized Profit/Loss (NRPL) declined from 13.98 million ADA on Thursday to 3.48 million ADA by Friday. This drop implies a decrease in profit booking among ADA holders. Meanwhile, the number of active addresses on the network fell to 24,455, down from 24,955 the previous day, further signaling a slowdown in network activity.

Despite these indicators, ADA’s price action hints at a potential falling wedge pattern breakout on the 4-hour chart. Bulls are targeting a key resistance level at $0.8913 if the price closes above the 200-period Exponential Moving Average (EMA) at $0.8335. This level is crucial for confirming a breakout, as it aligns with the upper trendline of the pattern, drawn by connecting the highs of August 14 and August 25. Additionally, ADA’s Open Interest (OI) remains above $1.57 billion, a sign of sustained optimism among derivative traders since mid-August.

Technical indicators on the 4-hour chart, however, remain mixed. The Moving Average Convergence Divergence (MACD) is close to its signal line, hinting at a possible bullish crossover. Conversely, the Death Cross pattern, where the 50-period EMA crossed below the 200-period EMA, signals a bearish shift. The Relative Strength Index (RSI) stands at 52, suggesting rising buying pressure but not a clear breakout signal. A reversal from the 200-period EMA could see ADA fall back toward the lower support trendline near $0.7788, prolonging the bearish phase within the wedge pattern.

Cardano’s founder, Charles Hoskinson, highlighted challenges in Cardano’s integration with Chainlink’s oracle services, citing an “absurd” fee that hindered participation in a U.S. government initiative to publish economic data on public blockchains. This delay has impacted Cardano’s DeFi growth, as the ecosystem’s Total Value Locked (TVL) dropped below $400 million in August. In contrast, Ethereum’s TVL saw a $13.4 billion increase during the same period. Hoskinson remains optimistic about resolving these issues and has indicated ongoing talks with Chainlink and potential collaboration with USD1 and Aave to bolster Cardano’s DeFi infrastructure.

The broader crypto market also shows divergent trends. Bitcoin (BTC) tested $113,000 before retreating, while Ethereum (ETH) and Ripple (XRP) traded in tight ranges. Cardano’s price in Ether (ETH) currently stands at ETH0.0001870, with a 3.1% decline since the previous day. In comparison, other altcoins like Binance Coin (BNB) and Solana (SOL) are consolidating around key moving averages. If Cardano fails to break above the 20-day EMA at $0.84, the likelihood of a decline toward $0.68 increases, reinforcing the bearish narrative until a clear bullish breakout occurs.

Source: [1] Cardano Price Forecast: ADA gears up for a potential ... (https://www.mitrade.com/insights/news/live-news/article-3-1098927-20250905) [2] Cardano Founder Says Chainlink Quoted Them An 'Absurd Price', Here’s Why (https://www.mitrade.com/insights/news/live-news/article-3-1093407-20250904) [3] ADA to ETH: Cardano Price in Ether (https://www.coingecko.com/en/coins/cardano/eth) [4] Price Predictions 9-5: BTC, ETH, XRP, BNB, SOL, DOGE, ADA, LINK, HYPE, SUI (https://cointelegraph.com/news/price-predictions-9-5-btc-eth-xrp-bnb-sol-doge-ada-link-hype-sui) [5] Crypto Price Analysis September-05: ETH, XRP, ADA, BNB ... (https://cryptopotato.com/crypto-price-analysis-september-05-eth-xrp-ada-bnb-and-hype/)