Cardano Price Prediction: ADA soars 18%, eyes $0.8104 following increased buying pressure and recent rumors


Cardano price today: $0.6830

  • ADA's rally could be due to rumors of the federal government leveraging Cardano to build a blockchain-based election voting system.
  • ADA's exchange flows, and open interest shows increased appetite among bullish investors.
  • ADA could rally to $0.8104 after bouncing off the 14-day EMA.

Cardano (ADA) is up 18% on Friday following rumors of the federal government leveraging its blockchain to build a blockchain-based election voting system. ADA has also seen increased attention from bulls, as its exchange net flows and open interest reveal increased buying pressure among investors.

Cardano bulls step up buying pressure following recent rumors

Cardano's ADA has been one of the crypto market's star performers since Donald Trump's presidential election victory. In the past nine days, ADA has posted gains of over 100%. Despite the market cooling off on Friday, the altcoin continued its charge, rising above the $0.6837 mark.

A potential reason for the increased bullish action in the past 24 hours is rumors that the recently formed Department of Government Efficiency (DOGE) is considering using Cardano to build a federal blockchain election voting and identity verification system. However, neither the DOGE nor key Cardano community members confirmed the rumors.

Meanwhile, ADA's exchange net flows showed increased buying pressure from bulls after its price touched $0.57, per Coinglass data. ADA witnessed net exchange outflows of $50.89 million between Tuesday and Wednesday — its highest since 2024. Exchange net outflows indicate higher buying pressure among investors.

ADA Exchange Net Flows

ADA Exchange Net Flows

While exchange flows have flipped to inflows in the past two days, price action shows buying pressure is still dominant in the ADA market.

On the derivatives front, traders have also shown a high preference for ADA, sending its open interest above $550 million for the first time since March.

ADA Open Interest

ADA Open Interest

Open interest is the total number of outstanding contracts in a derivatives market. When prices rise alongside open interest, it indicates strong bullish momentum.

Cardano Price Prediction: ADA eyes $0.8 after bouncing off 14-day EMA

Cardano has risen nearly 18% in the past 24 hours since bouncing off the 14-day Exponential Moving Average (EMA) on Thursday.

The altcoin is testing the resistance level at $0.6837. A firm close above this resistance could see ADA continue the uptrend to tackle its yearly high resistance of $0.8104.

ADA/USDT daily chart

ADA/USDT daily chart

The bullish momentum is strengthened by ADA's extended rally since breaking out of a seven-month bearish trend on November 6.

The Relative Strength Index (RSI) is in the overbought region, indicating ADA may see a potential correction.

A daily candlestick close below $0.4570 will invalidate the bullish thesis.


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended Content

Editors’ Picks

Top 3 gainers Supra, Cosmos Hub, EOS: Supra leads recovery after Trump’s tariffs announcement

Top 3 gainers Supra, Cosmos Hub, EOS: Supra leads recovery after Trump’s tariffs announcement

Supra’s 25% surge on Friday calls attention to lesser-known cryptocurrencies as Bitcoin, Ethereum and XRP struggle. Cosmos Hub remains range-bound while bulls focus on a potential inverse head-and-shoulders pattern breakout.

More Cryptocurrencies News
Bitcoin Weekly Forecast: Tariff ‘Liberation Day’ sparks liquidation in crypto market

Bitcoin Weekly Forecast: Tariff ‘Liberation Day’ sparks liquidation in crypto market

Bitcoin price remains under selling pressure around $82,000 on Friday after failing to close above key resistance earlier this week. Donald Trump’s tariff announcement on Wednesday swept $200 billion from total crypto market capitalization and triggered a wave of liquidations.

More Bitcoin News
Can Maker break $1,450 hurdle as whales launch buying spree?

Can Maker break $1,450 hurdle as whales launch buying spree?

Maker is back above $1,300 on Friday after extending its lower leg to $1,231 the previous day. MKR’s rebound has erased the drawdown that followed United States President Donald Trump’s ‘Liberaton Day’ tariffs on Wednesday, which targeted 100 countries.

More Maker News
Gold shines in Q1 while Bitcoin stumbles

Gold shines in Q1 while Bitcoin stumbles

Gold gains nearly 20%, reaching a peak of $3,167, while Bitcoin nosedives nearly 12%, reaching a low of $76,606, in Q1 2025. In Q1, the World Gold ETF's net inflows totalled 155 tonnes, while the Bitcoin spot ETF showed a net inflow of near $1 billion.

More Bitcoin News
Bitcoin Weekly Forecast: Tariff ‘Liberation Day’ sparks liquidation in crypto market

Bitcoin Weekly Forecast: Tariff ‘Liberation Day’ sparks liquidation in crypto market

Bitcoin (BTC) price remains under selling pressure and trades near $84,000 when writing on Friday after a rejection from a key resistance level earlier this week.

Read full analysis
The Best brokers to trade EUR/USD

The Best brokers to trade EUR/USD

SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.

Read More

BTC

ETH

XRP