ADA Reclaims $1 Price Level Amid Increased Network Activity

ADA, the native token of Cardano, recently reclaimed the $1 price level but has since fallen below it. Key points include:

Daily active addresses on the Cardano blockchain reached 50,828, indicating strong network activity.
Charles Hoskinson announced significant developments for the Cardano blockchain, including a planned integration with Bitcoin set for May 2025.
Currently, ADA is priced at $0.9893, up 1.81% in 24 hours and 12% over the past month, but down 68.05% from its all-time high of $3.10.
Potential approval of a spot ADA exchange-traded fund (ETF) in the U.S. could enhance market interest.

Technical Analysis

ADA faces resistance at $1.10 and $1.50; reclaiming these levels is necessary for an uptrend towards $2.
The MACD indicator shows bearish divergence, with the price dropping after a daily high of $1.03.
The Relative Strength Index (RSI) stands at 48.31, suggesting consolidation between $0.90 and $1.10.

Source: TradingView