cardano price Share this article on: Array

Is Cardano About to Explode? Charles Hoskinson Teases Major New Integration After Midnight Upgrade!

author:

Array

Is Cardano About to Explode? Charles Hoskinson Teases Major New Integration After Midnight Upgrade!

Jakarta, Pintu News – The price of Cardano (ADA) briefly fell by 4% on May 13, 2025 to $0.785, signaling a weakening of upward momentum after last week’s 19% rally.

Despite the short-term correction, the Cardano community remains optimistic thanks to the integration of the ADA token into the Brave Wallet and Charles Hoskinson’s teasing of more surprises to come.

In addition, there is a possibility that the ADA price trend will reverse after the retest phase. Will Cardano break the $1 mark again thanks to the hype of the Midnight update?

Cardano Price Analysis Shows Potential Retest at $0.75 Level

Cardano’s price recently broke through the strong $0.75 level and printed a weekly high of $0.864. However, the ADA price is now struggling to sustain these gains and is down 4% as of May 13.

Read also: These 3 Explosive Altcoins Could Shatter All-Time Highs This May

This correction comes after Cardano’s price reversed direction from its peak at $0.864 on Monday, limiting the daily gain to just 1.61%. It should be noted that volatility increased sharply after the 4.17% drop that occurred on Sunday.

Despite high volatility, Cardano’s price is still holding above the $0.75 demand zone and signaling a possible reversal after the retest.

This retest opportunity comes after the inverted head and shoulders pattern was broken, with the neckline around the $0.75 level as seen on the ADA price chart.

Source: TradingView via Coingape

Based on the technical pattern, the potential post-re-test reversal could reach a target of $1.08, which is calculated by adding the depth of the pattern to the neckline.

Cardano’s sharp price fluctuations also caused the Relative Strength Index (RSI) indicator to approach the overbought zone before finally reversing. This reflects the weakening momentum during the retest phase.

However, the rising 50- and 200-day exponential moving averages (EMAs) open up the possibility of a “golden crossover”.

Based on trend-based Fibonacci levels, Cardano’s price bounce from the 23.60% Fibonacci level at $0.762 could potentially lead to the 50% level at $1.08. However, short-term resistance still exists at the 38.20% level which is around $0.92.

Conversely, if the price fails to hold the $0.75 zone, then the breakout pattern will be invalidated, and could trigger a further correction to the 50-day EMA at $0.71.

Optimism Rises as Partnership Realization Driven by Midnight

Cardano’s community sentiment remains strong despite the price correction, thanks to recent partnerships and statements from Charles Hoskinson.

Recently, the long-awaited integration between the ADA token and Brave Wallet was finally realized, cementing Cardano’s real-world applicability.

Read also: PancakeSwap Infinity and Brevis Are Revolutionizing DeFi — Here’s How ZK Tech Is Behind It All!

In his announcement, Charles Hoskinson further stirred optimism among the Cardano community and investors by calling this integration the first step of many other deals to come.

He also revealed that the cooperation should have been launched in 2022, but was held up because, according to him, “certain parties failed to perform their duties and we were ignored.”

A series of new partnerships negotiated around the launch of Midnight will be announced throughout the summer and fall of this year.

With the updates and new collaborations, sentiment towards Cardano continues to improve, indicating potential upside for the ADA price and easing concerns over short-term volatility.

That’s the latest information about crypto. Follow us on Google News to stay up-to-date on the world of crypto and blockchain technology.

Enjoy an easy and secure crypto trading experience by downloading Pintu crypto app via Google Play Store or App Store now. Get a web trading experience with advanced trading tools such as pro charting, various types of order types, and portfolio tracker only at Pintu Pro. Pintu Pro Futures is also available, where you can buy bitcoin leverage, trade btc futures, eth futures and sol futures easily from your desktop!

*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

Array