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Cardano completed a golden cross on its two-hour chart, with the MA 50 crossing above the MA 200. This corresponded with a mild rebound in the $ADA price; at the time of writing, $ADA was up 0.45% in the last 24 hours and up nearly 3% weekly.
This showed that the bullish signal was not enough to offset an earlier downturn in price, with $ADA remaining in a range.
Since Feb. 26, $ADA has traded sideways in a range between $0.233 and $0.2935. This suggests that $ADA's breakout is yet to materialize.
Analysts point out that the crypto market remains in a seven-month downtrend, but signs of a structural floor are now beginning to emerge. If this is the scenario, the Cardano price might continue sideways trading for a little while longer, which might be followed by a breakout.
Fed market expectations remain steady
Markets continue to price in a small chance of a rate cut through the rest of 2026, though Fed officials at their March meeting indicated a shift toward a quarter-percentage point cut, with the timing remaining uncertain.
The newly released Consumer Price Index increased by 0.9% in March, putting the annual inflation rate at 3.3%. Both numbers were in line with the Dow Jones consensus. The annual rate was the highest since April 2024 and up from 2.4% in February.
However, core prices rose much less – just 0.2% for the month and 2.6% from a year ago, both 0.1 percentage points below forecast, indicating that underlying inflation was contained.
Cardano whale numbers hit new high
According to Santiment, Cardano's whale numbers have recently hit a four-month high. Cardano's number of wallets holding at least 10 million $ADA has increased to a four-month high of 424, a 5.2% rise in nine weeks. There are now 424 million $ADA, with at least 10 million $ADA, the most since Dec. 6.
Even though Cardano has not decoupled from other altcoins yet in 2026, its market value is about 11% since it bottomed out on Feb. 5. Santiment noted that if whale numbers continue to grow while the $ADA price remains suppressed, this would create a bullish divergence.