Cardano: Will This Failing Crypto Finally Make a Comeback or Is It Toast?

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Alright, let me tell ya, Cardano is out here pretending to be a “bullish reversal” with this so-called “falling wedge pattern.” Yeah, sure, wedge pattern—heard that one before. It’s like when someone tells you they’re on a juice cleanse right before you see them at the pizza shop. 🍕

So, ADA’s sitting at $0.6404. Not bad—unless you look back thirty days and realize it’s dropped 15%. Down 44% from the year’s highs. You know what that is? That’s not a dip, that’s a canyon. They should put up warning signs for falling rocks… or falling tokens. 🪨

Remember March 3rd? (I don’t, but apparently ADA does.) It shot up 75% in one day because Trump said something about a “crypto strategic reserve.” Because nothing says “financial security” like putting your hopes in a political press release. Fantastic. Let me buy two.

People got excited about Grayscale maybe launching a Cardano ETF. But now, just like my excitement for salad, that optimism has completely vanished. SEC moved the decision to July 15, 2025. “Hurry up and wait,” right? I’ve stood in shorter lines at the DMV, and those people never want to help you.

Look, ADA’s got this wedge pattern forming, and all the “technicals” say maybe—just maybe—a comeback is brewing. If I had a dollar for every time crypto teased a comeback, I’d have… well, a lot more than if I’d held ADA the last 30 days. The price is cozying up to $0.51, a level that bulls apparently defended in April like it was the last donut at an office meeting.

But here’s the thing: The token slipped below its 20-day EMA. You know what that means? Bears have the remote and they’re not giving it back. MACD’s negative, Relative Strength Index? 41. Not quite oversold, but definitely not ready for “America’s Next Bullish Model.”

If—big IF—ADA can break above $0.68, we might get a reversal. You remember reversals, right? That thing that never happens at the deli counter when you say “Excuse me, I was next”? Get above $0.68 and maybe, just maybe, it hits $0.86. Or it tanks to $0.32—because why not. That’s what markets do. They go up, they go down, and nobody knows anything, but they act like they do.

On the “let’s hope!” front, Charles Hoskinson announced that XRP is coming to Lace Wallet. So now you get to worry about two cryptos at once, not just one. Double the stress. Double the fun. 🤑 DeFi stuff with Ripple and something about a stablecoin are also “being looked at.” Which—I don’t know—maybe they’ll solve everything, maybe they’ll just give you something new to worry about.

And if you needed more drama, there’s a Glacier airdrop coming. Because who doesn’t want more tokens they didn’t ask for? Hoskinson’s even thinking about turning $100 million ADA into Bitcoin and stablecoins, because clearly, when you’re losing, you should mix it up and just see what happens. That’s how I decide whether to use a fork or a spoon for soup. 🥄

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2025-06-16 10:12