Cardano Price Pumps 5% As Traders Rush To Buy This ICO

The Cardano price pumped over 5% in the last 24 hours to trade at $0.7532 as of 6:21 a.m. EST as investors buy into the crypto.

This increase in the ADA price comes after Cardano founder Charles Hoskinson recently opened up about the possibility of implementing Ripple’s RLUSD on the network. In a recent AMA YouTube session, Hoskinson said he is in ongoing discussions with Ripple’s CEO Brad Garlinghouse and CTO David Schwartz.

Cardano Price Gets Rejected By Resistance

4-hour chart for ADA/USD (Source: GeckoTerminal)

The Cardano price was rejected by the resistance level at $0.8041 in the last 24 hours, GeckoTerminal data shows. This rejection was followed by a pullback, bringing ADA to its current price. If bulls do not step in soon, the altcoin could end up testing the immediate support level at $0.6341. A drop below this technical safety net might lead to ADA falling further.

On the other hand, buyers entering ADA’s order books in the next few hours could lead to another challenge at the $0.8041 resistance. With this second attempt to overcome the barrier, the Cardano price might successfully flip this resistance level into support. A 4-hour candle close above $0.8041 could then give the crypto the foundation needed to rise to $0.9741.

Bulls Are Fighting To Take Control Of The Cardano Price

Looking at technical indicators, it seems the Cardano price has hit a roadblock. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) show that bears are currently trying to stop ADA bulls in their tracks.

RSI readings have oscillated between 40 and 50 in recent hours, as bulls struggle to consolidate their power and push the indicator’s readings above 50 to signal that they have taken control of the Cardano price. 

In the last couple of hours, RSI values have started to climb once again. If RSI values continue to rise, the indicator could break above 50 and confirm a bullish shift in power on ADA’s charts. This technical signal might then attract additional buying power from traders who had waited on the sidelines until a confirmation of Cardano’s next move.

Meanwhile, the MACD line has risen towards the MACD Signal line in the last couple of hours. This narrowing gap between the indicators, coupled with the current orientation of the MACD below the MACD Signal line, could be an early sign of an upcoming bullish reversal of ADA’s negative trend. 

A confirmation that ADA has entered a positive trend might be when the MACD line crosses above the MACD Signal line.

As the Cardano price tries to breach resistance, traders are flocking to the presale for Best Wallet (BEST). According to popular YouTuber Crypto Gains, who has over 141K subscribers, BEST could potentially soar 10X after its launch.

Best Wallet Is Packed With An Array Of Useful Features

Best Wallet is the ultimate digital asset wallet that gives users all of the tools they need to manage, grow and secure their crypto all within a single application. Not only does Best Wallet support over 60 blockchain networks, it also allows users to import their wallets from across the Web3 space into the app to make it substantially easier for users to keep an eye on their crypto.

With all of their wallets in one place, crypto investors can then take advantage of the in-app staking program Best Wallet has to offer. With this feature, users can start multiple staking sessions simultaneously for assets residing on any of the supported blockchains.

For investors that want to grow their crypto more actively, Best Wallet also offers a seamless swap solution. This lets users switch between cryptos with ease to capitalize on changing market conditions.

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You can now claim tokens directly within your Upcoming Tokens tab. ⚡️

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— Best Wallet (@BestWalletHQ) February 3, 2025

One of the standout features offered within the Best Wallet app is the “Upcoming Tokens” section. This feature has already shown that it can successfully identify high-potential early-stage projects. So far, this functionality has flagged gems that include Catslap (SLAP) and Pepe Unchained (PEPU), both of which have gone on to deliver remarkable gains for investors.

Investors Bet Big On BEST’s Future

Best Wallet has already raised over $9 million through its ongoing presale, signaling strong investor confidence in the project’s future. Apart from the bullish predictions by experts such as Crypto Gains and the wide range of features the project’s app offers, there is also an attractive staking program offered to presale buyers that might be pulling investors in.

To unlock these passive crypto rewards, investors will first need to buy BEST tokens through the buy widget embedded on the project’s website. After purchasing BEST with either crypto or bank card, investors can then lock up their tokens for a 189% annual staking return.

Interested investors should buy before a price hike in about 10 hours.

Visit BEST here.

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