Cardano Drops 4.062% Amid Technical Indicators, Upgrades Ahead

Cardano's latest price was $0.8040, down 4.062% in the last 24 hours. This price movement has been influenced by the moving average convergence divergence (MACD) indicator, which suggests that temporary momentum might be losing its traction. The primary support area at $0.75 coincides with the historic breakout area, and maintaining trading volume above this figure will be essential for sustaining any bullish trajectory. Should ADA trade above $0.75, it could show the bullish narrative and consolidate at $0.82 and then move to $0.85. However, a fall below $0.75 could lead to a larger retracement, with potential support near $0.70 in the next few days.

On the derivatives side, data from CoinGlass shows that ADA's last major long liquidation cluster formed around $0.789. Short positions have exploded above this level, totaling about 40M cumulative shorts due to be triggered at $0.90. From $0.805 to $0.875, short clusters formed mainly on the Binance and Bybit platforms. If the price goes up, these shorts might initiate a domino effect of liquidations, thereby increasing market volatility. Conversely, a dip below $0.775 puts longs under pressure, with positions heaped at Bybit and OKX at the bottom from $0.760. In short, ADA's next move will likely trigger swift liquidations either way, as large liquidity gaps flank both sides of the current range.

Cardano is looking to incorporate a series of updates to bring inter-blockchain connectivity, which could significantly impact its market dynamics. A verified crypto influencer on X posted about the potential for these updates to rocket ADA past $1 faster than anyone expects. The digital currency is currently hovering just below the $0.8 level as it looks to counter the resistance at this level. After a major setback at the start of the year, the end of April has brought a significant change in the overall fortune of the market, with ADA posting a 25% price appreciation. A major upgrade is set to make things even more dynamic as we head into the much-anticipated 3rd and 4th quarters of 2025.

Charles Hoskinson, the founder of the Cardano blockchain network, recently revealed its latest upgrade, which he claims will make it the fastest in the crypto landscape. According to Hoskinson, the team had undergone a painstaking 8 years of research to come up with this update. It promises a multi-layered block structure comprising input blocks, ranking blocks, and endorsement blocks. If successful, it will enable Cardano developers to use it in more powerful applications with enhanced security and scalability. However, updates on blockchain networks are a tricky business, and it remains to be seen how they will perform in the coming months. On the other hand, even if they aren’t as advertised, one can expect a major price appreciation in ADA’s value due to optimism surrounding the resumption of the crypto bull market.

Cardano is undergoing a major transformation as it adopts a more open and agile development model. Charles Hoskinson, the blockchain’s founder, announced the shift on May 10, signaling a new chapter in how the network evolves. According to Hoskinson, the new approach will allow external contributors to participate more actively in building the ecosystem. It also introduces flexible workflows to speed up innovation while preserving the platform’s security principles. Hoskinson acknowledged that Cardano’s early design favored caution over speed. Its focus on formal verification and long-term planning helped build a secure foundation. However, he admitted that this same approach slowed development and made it harder for outside teams to contribute. To address this, Cardano is bringing in smaller and more adaptive teams, such as Aiken and Midgard. These groups will work alongside established teams like Input Output’s formal verification unit, which uses advanced tools to ensure code safety. The idea is to blend speed with rigor, enabling the network to keep pace with evolving demands. Hoskinson furthered that this new hybrid approach will encourage innovation while preserving Cardano’s foundational strengths. Meanwhile, Hoskinson acknowledged that some community members may resist change and prefer the platform’s earlier methods. Nevertheless, he believes this evolution is necessary for Cardano to reach its full potential. The transition has already impacted Cardano’s internal structure, with several contributors dismissed after allegedly planning to delay the Leios upgrade to 2028. Hoskinson made it clear that such delays are no longer acceptable. Jeff Watson, Director of Engineering at Input Output, confirmed that the team is hiring new contractors. These recruits will come from within the Cardano ecosystem and will help push the Leios upgrade forward. Meanwhile, Cardano’s strategic shift reflects a broader trend across the industry, as projects seek to balance innovation with security and scalability.