In a surprise twist, Cardano (ADA) is up despite a classic bearish indicator flashing on its charts. The famed "death cross," which occurs when the 50-day moving average crosses below the 200-day moving average, has appeared on the Cardano daily chart.
The death cross, generally seen as a warning sign of sustained weakness, coincided with a significant sell-off on the crypto markets yesterday, resulting in $1.44 billion in crypto liquidations. Cardano suddenly gained strength following the crossover, sharply rebounding from lows of $0.51 in Monday's trading session.
ADA/USD Daily Chart, Courtesy: TradingView
At press time, Cardano (ADA) was up 11% in the last 24 hours to $0.588, after reaching intraday highs of $0.604.
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Technical analysts are now closely watching the resistance range between $0.70 and $0.73, while support is near $0.40-$0.51. If ADA can maintain momentum above these levels, it may invalidate the bearish implications of the death cross, energizing bulls even more.
Cardano ecosystem continues to grow
In a recent tweet, Cardano developer Input Output revealed highlights from March. As of March 28, 2025, Cardano was inching closer to 2,000 projects building on it. The number of delegated wallets climbed by 4,000, reaching 1.328 million.
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The number of token policies grew by 2,578, and minted native tokens increased by 30,000. Plutus scripts increased by 2,631, now reaching 129,745. Of them, 5,909 are Aiken scripts.
March saw the release of Lace v.1.21.0 and node v.10.2.1, which introduced support for the new tracing system and initial integration of Ouroboros Genesis — a new feature that allows nodes to bootstrap from the network.
A mainnet scale analysis of Leios was carried out on a realistic 3,000-node network and revealed performance benefits from network topology. As part of the continuous improvement of Voltaire's processes, the voting and budgeting processes for Cardano have been reviewed and updated.
In a recent update, Input Output stated that it had submitted its 2025 Core Cardano Development Proposal for DRep, committee and community appraisal.
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