Latest news with #ADA-USD
Business Insider
4 days ago
- Business
- Business Insider
Cardano Analyst Predicts '100–150% Massive Bullish Rally' as Holders Show Record Confidence
Cardano's (ADA-USD) price has finally broken free from months of sideways trading. Analyst Clifton Fx says the move confirms a bull flag breakout on the three-day chart. This pattern often signals strong upside ahead. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. The rally started from the lower end of the trendline and has now pushed ADA above key resistance levels. According to Clifton Fx, if momentum holds, Cardano could rise between 100% and 150% in the coming weeks. That would put the price in the $1.60–$1.75 range, levels last reached in early 2024. The breakout comes with ADA up 20% in the past 24 hours, reaching $0.99, its highest point in five months. This puts the token among the top performers in the altcoin market right now. Traders Set Sights on Key ADA Price Targets Cardano's rally has caught the attention of a lot of people. Trader_Jibon predicts ADA will first reclaim its November high near $1.32. After that, the target would shift toward the mid-2022 peak of $1.63. These targets line up closely with Clifton Fx's projections. If ADA can hold above new support, the move toward $1.60–$1.75 could play out faster than expected. Long-Term ADA Holders Strengthen the Bullish Case Confidence among long-term ADA holders has reached record highs. Data from TapTools shows 15 billion ADA has not moved for more than a year. This suggests reduced selling pressure, which can give rallies more room to run. At the same time, retail interest is picking up. Google searches for 'Cardano' have hit a five-month peak. Searches for 'altcoin' are at their highest since 2021. Historically, similar spikes have happened during major shifts of capital from Bitcoin into altcoins, such as the ICO surge of 2018 and the DeFi-NFT boom of 2021. The rally in ADA is part of a broader altcoin market surge. Many traders believe an 'altcoin season,' when alternative cryptocurrencies outperform Bitcoin, is starting to take shape. If that trend continues, and long-term holders keep their grip on ADA, Cardano could be in position for the type of explosive rally its chart patterns are now signaling. At the time of writing, ADA is sitting at $0.9135.
Yahoo
03-06-2025
- Business
- Yahoo
Japan Drives Cardano Trading Surge as Price Battles $0.70 Resistance
Geopolitical tensions and regulatory uncertainty continue to shape cryptocurrency markets as Cardano ADA experiences volatile price action between $0.664 and $0.690. Despite strong network fundamentals, including surpassing 110 million total transactions, ADA faces downward pressure amid broader market concerns about inflation and monetary policy decisions. Technical Analysis ADA-USD exhibited a volatile 24-hour trading range of 0.026 (3.85%), forming a consolidation pattern between $0.664 and $0.690. Significant resistance encountered at $0.690 with high-volume rejection during the 01:00 hour. Strong support established at $0.665 with notable buying pressure emerging at the 10:00 and 12:00 hours. 4-hour moving average suggests a slight bearish bias, with price currently testing mid-range level around $0.672. Clear resistance zone formed around $0.676, with peak volume during the 13:36-13:40 period. Pullback to $0.668 at 14:00 established a new support level, with immediate buying pressure pushing prices back above $0.671. Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy. Error al recuperar los datos Inicia sesión para acceder a tu cartera de valores Error al recuperar los datos Error al recuperar los datos Error al recuperar los datos Error al recuperar los datos
Yahoo
03-03-2025
- Business
- Yahoo
Stock market today: Dow, S&P 500, Nasdaq wobble as Trump tariffs stalk markets
US stocks were mixed on Monday as a looming deadline fueled uncertainty around President Donald Trump's tariff plans and investors looked ahead to the monthly jobs report and key retail earnings. The S&P 500 (^GSPC) fell 0.2% while the tech-heavy Nasdaq Composite (^IXIC) erased early morning gains to fall 0.4% after the release of weak manufacturing data. The Dow Jones Industrial Average (^DJI) hovered near the flatline. The major US indexes are coming off a volatile week and a losing month in February. March trading is kicking off with investors encountering more questions than answers as tariff deadlines loom, the Federal Reserve's next meeting fast approaches, and the US economy faces the test of disproving investors' fears about growth. Tariffs on Canada and Mexico are set to come into effect on Tuesday, with no indication that a planned March 4 implementation date will be pushed back again. While 25% duties are planned, Commerce Secretary Howard Lutnick hinted that they could be lower by describing it as a "fluid situation." New tariffs on China are also due on March 4, with Beijing said to be eyeing retaliatory measures on US agricultural products. Data out Monday morning showed activity in the manufacturing grew less than expected in February while costs increased. Elsewhere, European leaders' weekend effort to rally around Ukraine prompted traders to boost bets on a bump in defense spending in the region, lifting related stocks. The week will bring a crucial jobs report and a batch of retail earnings that could feed or ease concerns about an economic downturn and consumer resilience. The February nonfarm-payrolls report on Friday is expected to show modest job growth, with the unemployment rate steady at 4%. And in a packed week of retail earnings, results from Target (TGT) on Tuesday and Costco (COST) are in focus for what they reveal about American shoppers. Data last week showed consumer spending unexpectedly fell in January by the most in four years. Meanwhile, cryptocurrencies got a boost after Trump said on Sunday that five digital assets — bitcoin (BTC-USD), ether (ETH-USD), XRP (XRP-USD), solana (SOL-USD), and cardano (ADA-USD) — would be included in a new US strategic cryptocurrency reserve. Prices of those tokens on Monday held onto much of the sharp gains booked following the post on social media by the president, with bitcoin trading around $91,700. Crypto stocks rallied in early trading Monday after President Donald Trump said on social media that his administration will create a US crypto reserve. In a post on Truth Social on Sunday, Trump said the US crypto reserve would include bitcoin, ether (ETH-USD), XRP (XRP-USD), solana (SOL-USD), and cardano (ADA-USD). Trump had previously issued an executive order to create a national crypto 'stockpile' but did not name which cryptocurrencies would be included. Strategy (MSTR), the largest corporate holder of bitcoin formerly known as MicroStrategy, rose 12% while crypto miners Riot Platforms (RIOT) and MARA Holdings (MARA), formerly known as Marathon Digital, jumped 7% and 9%, respectively. Coinbase (COIN) climbed 3.5%. Read more here. Yahoo Finance's Ben Werschkul reports: Read more here. Data out Monday showed activity in the manufacturing grew less than expected in February while costs increased. The Institute for Supply Management's manufacturing PMI registered a reading of 50.3 in February, down from January's 50.9 reading and below the 50.7 economists had expected. Readings above 50 for this index indicate an expansion in activity, while readings below 50 indicate a contraction. The prices paid index surged to 62.4, up from 54.9 the month prior, reflecting companies' continuing increase in costs. "Demand eased, production stabilized, and destaffing continued as panelists' companies experience the first operational shock of the new administration's tariff policy," Institute for Supply Management Chair Timothy Fiore wrote in the release. "Prices growth accelerated due to tariffs, causing new order placement backlogs, supplier delivery stoppages and manufacturing inventory impacts. Although tariffs do not go into force until mid-March, spot commodity prices have already risen about 20 percent." Another reading on manufacturing activity out Monday also raised concern about President Trump's policies. The final reading of S&P Global's manufacturing PMI hit 52.7 in February, above 51.2 in January and its highest level since June 2022. Despite the upbeat index reading for February, S&P Global Market Intelligence chief business economist Chris Williamson noted that respondents' optimism for the year ahead is waning. 'Business optimism about the year ahead has consequently fallen compared to the buoyant mood evident in January, with February seeing an increase in the number of companies citing concerns over tariffs and other policies introduced by the new Trump administration," Williamson said in the release. Stocks opened higher on Monday as investors braced for President Trump's targeted tariffs to come into force soon. The market will get key economic insight from Friday's release of the monthly jobs report and from quarterly results from key retailers. The S&P 500 (^GSPC) climbed 0.5%. while the tech-heavy Nasdaq Composite (^IXIC) rose about 0.8%. The Dow Jones Industrial Average (^DJI) was up 0.3%. Investors expect tariffs on Mexico and Canada will be implemented on Tuesday, along with a doubling of levies on imports from China. Wall Street will be closely watching the February jobs report due Friday. On the earnings front, results from Target (TGT), Costco (COST), and Kroger (KR) will offer more details about the state of the consumer. Markets are coming off a volatile week and month in February. And as March trading kicks off, Goldman Sachs strategists warn any rebound in the S&P 500 (^GSPC) is likely to prove temporary as the US economy shows signs of a slowdown. "In the near term, we believe an improvement in the US economic growth outlook will be required to fully reverse the recent equity market weakness," Goldman's David Kostin wrote in a note. "We expect growth data will again be key for the path of US equities and next Friday's jobs report will represent a major test." Goldman revised its 2025 earnings per share growth forecast from 11% to 9% and maintained its 2026 growth forecast of 7%. Read more here. Kroger (KR) shares were down 1% premarket on news that the grocer's longtime CEO, Rodney McMullen, resigned from his post following an investigation into his personal conduct. Reuters reports: Read more here. Intel's (INTC) shares were up 5% in premarket after Reuters reported that AI leader Nvidia (NVDA) and Broadcom (AVGO) running manufacturing tests of their chips in its factory. Reuters reported, citing sources familiar with the matter: Read more here. Economic data: S&P Global Manufacturing PMI (February); ISM Manufacturing PMI (February) Earnings: Plug Power (PLUG), GitLab (GTLB), Okta (OKTA), B. Riley Financial (RILY) Here are some of the biggest stories you may have missed over the weekend and early this morning: Markets face more questions than answers as tariffs, jobs report loom Fears rise about US economy: What Wall Street expects next Big Tech pain is mounting as risk-wary traders dump winners Nvidia and Broadcom testing chips on Intel manufacturing process Bitcoin nears $92K after Trump lists crypto reserve tokens Reddit co-founder Alexis Ohanian joins Frank McCourt's bid for TikTok Honda said to shift Civic production to US from Mexico over tariffs China targets US agricultural products over Trump tariffs: Report Goldman's Kostin warns S&P 500 rally faces hurdles in near term Defense stocks rallied in Europe on Monday after leaders in the region discussed how to secure Ukraine, prompting investors to ramp up bets on a rise in military spending. The UK and France are leading a push by a "coalition of the willing" European leaders to boost peacekeeping forces after last week's clash between US President Donald Trump and Ukraine's leader Volodymyr Zelenskiy. The moves follow reports that France's president and Germany's next government believe that hundreds of billions of dollars in additional defense spending is needed. Shares of European arms makers jumped, with BAE Systems (BA.L, BAESF) rising 13% and Rheinmetall ( RNMBY) up 16%. Thales ( THLEF) added 11%, Saab (SAABY, put on 9%, and Dassault Aviation ( gained 12%, helping lift the Stoxx 600 by 0.5% toward a record high. Oil prices remained level at the beginning of the week as traders assessed the potential impact of Russia's war in Ukraine and awaited President Donald Trump's tariffs on US trading partners ahead of the March 4 implementation date. Bloomberg reports: Read more here. On Sunday, US President Donald Trump revealed the names of five digital assets he plans to add to a new strategic reserve of cryptocurrencies, causing surges in the market value of each. Trump shared the announcement on Truth Social, stating that his January executive order on digital assets would establish a stockpile consisting of Bitcoin, Ethereum, XRP, Solana, and Cardano. These assets had not been disclosed before. Bitcoin (BTC-USD) Inclusion in the reserve sent the world's largest cryptocurrency up by more than 20% from the November lows it was trading at early Friday. Ethereum (ETH-USD) The second largest cryptocurrency jumped 10% on the news. XRP (XRP-USD) XRP (Ripple) spiked to a 38% jump directly after the post, then settled to a 25% gain. Solana (SOL-USD) Solana, known as the most "censorship resistant network" in the world, was trading 20% higher than pre-announcement. Cardano (ADA-USD) Third-generation blockchain stalwart Cardano saw the biggest gain, skyrocketing 60% in minutes. Gold (GC=F) opened up after the weekend following a steep fall last week. Investors are bracing for potential economic instability as US President Donald Trump prepares to implement import tariffs against key trade partners. Bloomberg reports: Read more here. Crypto stocks rallied in early trading Monday after President Donald Trump said on social media that his administration will create a US crypto reserve. In a post on Truth Social on Sunday, Trump said the US crypto reserve would include bitcoin, ether (ETH-USD), XRP (XRP-USD), solana (SOL-USD), and cardano (ADA-USD). Trump had previously issued an executive order to create a national crypto 'stockpile' but did not name which cryptocurrencies would be included. Strategy (MSTR), the largest corporate holder of bitcoin formerly known as MicroStrategy, rose 12% while crypto miners Riot Platforms (RIOT) and MARA Holdings (MARA), formerly known as Marathon Digital, jumped 7% and 9%, respectively. Coinbase (COIN) climbed 3.5%. Read more here. Yahoo Finance's Ben Werschkul reports: Read more here. Data out Monday showed activity in the manufacturing grew less than expected in February while costs increased. The Institute for Supply Management's manufacturing PMI registered a reading of 50.3 in February, down from January's 50.9 reading and below the 50.7 economists had expected. Readings above 50 for this index indicate an expansion in activity, while readings below 50 indicate a contraction. The prices paid index surged to 62.4, up from 54.9 the month prior, reflecting companies' continuing increase in costs. "Demand eased, production stabilized, and destaffing continued as panelists' companies experience the first operational shock of the new administration's tariff policy," Institute for Supply Management Chair Timothy Fiore wrote in the release. "Prices growth accelerated due to tariffs, causing new order placement backlogs, supplier delivery stoppages and manufacturing inventory impacts. Although tariffs do not go into force until mid-March, spot commodity prices have already risen about 20 percent." Another reading on manufacturing activity out Monday also raised concern about President Trump's policies. The final reading of S&P Global's manufacturing PMI hit 52.7 in February, above 51.2 in January and its highest level since June 2022. Despite the upbeat index reading for February, S&P Global Market Intelligence chief business economist Chris Williamson noted that respondents' optimism for the year ahead is waning. 'Business optimism about the year ahead has consequently fallen compared to the buoyant mood evident in January, with February seeing an increase in the number of companies citing concerns over tariffs and other policies introduced by the new Trump administration," Williamson said in the release. Stocks opened higher on Monday as investors braced for President Trump's targeted tariffs to come into force soon. The market will get key economic insight from Friday's release of the monthly jobs report and from quarterly results from key retailers. The S&P 500 (^GSPC) climbed 0.5%. while the tech-heavy Nasdaq Composite (^IXIC) rose about 0.8%. The Dow Jones Industrial Average (^DJI) was up 0.3%. Investors expect tariffs on Mexico and Canada will be implemented on Tuesday, along with a doubling of levies on imports from China. Wall Street will be closely watching the February jobs report due Friday. On the earnings front, results from Target (TGT), Costco (COST), and Kroger (KR) will offer more details about the state of the consumer. Markets are coming off a volatile week and month in February. And as March trading kicks off, Goldman Sachs strategists warn any rebound in the S&P 500 (^GSPC) is likely to prove temporary as the US economy shows signs of a slowdown. "In the near term, we believe an improvement in the US economic growth outlook will be required to fully reverse the recent equity market weakness," Goldman's David Kostin wrote in a note. "We expect growth data will again be key for the path of US equities and next Friday's jobs report will represent a major test." Goldman revised its 2025 earnings per share growth forecast from 11% to 9% and maintained its 2026 growth forecast of 7%. Read more here. Kroger (KR) shares were down 1% premarket on news that the grocer's longtime CEO, Rodney McMullen, resigned from his post following an investigation into his personal conduct. Reuters reports: Read more here. Intel's (INTC) shares were up 5% in premarket after Reuters reported that AI leader Nvidia (NVDA) and Broadcom (AVGO) running manufacturing tests of their chips in its factory. Reuters reported, citing sources familiar with the matter: Read more here. Economic data: S&P Global Manufacturing PMI (February); ISM Manufacturing PMI (February) Earnings: Plug Power (PLUG), GitLab (GTLB), Okta (OKTA), B. Riley Financial (RILY) Here are some of the biggest stories you may have missed over the weekend and early this morning: Markets face more questions than answers as tariffs, jobs report loom Fears rise about US economy: What Wall Street expects next Big Tech pain is mounting as risk-wary traders dump winners Nvidia and Broadcom testing chips on Intel manufacturing process Bitcoin nears $92K after Trump lists crypto reserve tokens Reddit co-founder Alexis Ohanian joins Frank McCourt's bid for TikTok Honda said to shift Civic production to US from Mexico over tariffs China targets US agricultural products over Trump tariffs: Report Goldman's Kostin warns S&P 500 rally faces hurdles in near term Defense stocks rallied in Europe on Monday after leaders in the region discussed how to secure Ukraine, prompting investors to ramp up bets on a rise in military spending. The UK and France are leading a push by a "coalition of the willing" European leaders to boost peacekeeping forces after last week's clash between US President Donald Trump and Ukraine's leader Volodymyr Zelenskiy. The moves follow reports that France's president and Germany's next government believe that hundreds of billions of dollars in additional defense spending is needed. Shares of European arms makers jumped, with BAE Systems (BA.L, BAESF) rising 13% and Rheinmetall ( RNMBY) up 16%. Thales ( THLEF) added 11%, Saab (SAABY, put on 9%, and Dassault Aviation ( gained 12%, helping lift the Stoxx 600 by 0.5% toward a record high. Oil prices remained level at the beginning of the week as traders assessed the potential impact of Russia's war in Ukraine and awaited President Donald Trump's tariffs on US trading partners ahead of the March 4 implementation date. Bloomberg reports: Read more here. On Sunday, US President Donald Trump revealed the names of five digital assets he plans to add to a new strategic reserve of cryptocurrencies, causing surges in the market value of each. Trump shared the announcement on Truth Social, stating that his January executive order on digital assets would establish a stockpile consisting of Bitcoin, Ethereum, XRP, Solana, and Cardano. These assets had not been disclosed before. Bitcoin (BTC-USD) Inclusion in the reserve sent the world's largest cryptocurrency up by more than 20% from the November lows it was trading at early Friday. Ethereum (ETH-USD) The second largest cryptocurrency jumped 10% on the news. XRP (XRP-USD) XRP (Ripple) spiked to a 38% jump directly after the post, then settled to a 25% gain. Solana (SOL-USD) Solana, known as the most "censorship resistant network" in the world, was trading 20% higher than pre-announcement. Cardano (ADA-USD) Third-generation blockchain stalwart Cardano saw the biggest gain, skyrocketing 60% in minutes. Gold (GC=F) opened up after the weekend following a steep fall last week. Investors are bracing for potential economic instability as US President Donald Trump prepares to implement import tariffs against key trade partners. Bloomberg reports: Read more here. Sign in to access your portfolio
