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CoinDesk 2025-05-14 15:06:01

Cardano (ADA) Surges 22% in One Week After Brave Browser Boosts User Exposure

Cardano (ADA) Surges 22% in One Week After Brave Browser Boosts User Exposure

Global economic uncertainties are creating ripple effects across cryptocurrency markets, with Cardano (ADA) demonstrating notable volatility amid shifting investor sentiment. After rallying 22% weekly, ADA has established a trading range between $0.795 and $0.841, reflecting both profit-taking and strategic accumulation by larger investors. Recent developments have strengthened Cardano's market position, particularly its addition to Grayscale's Digital Large Cap Fund and integration with Brave browser's wallet system. These partnerships have significantly expanded ADA's potential user base, with the Brave integration alone connecting Cardano to over 86 million users worldwide. Market data shows institutional involvement has intensified, with on-chain analytics revealing holders controlling between 100 million and 1 billion ADA accumulating over 40 million tokens in just two days. This whale activity coincides with ADA's breakout from a descending channel pattern, suggesting potential for further upward movement despite short-term volatility. Technical Analysis Highlights ADA exhibited significant volatility over the 24-hour period, establishing a range of 0.047 (5.9%) between the low of 0.795 and high of 0.841. The price action formed a clear bullish trend during the first half of the period, with high-volume buying at the 0.805 support level propelling ADA to its peak. A subsequent correction phase emerged as profit-taking intensified, with notable selling pressure around the 0.828 resistance level, particularly during the 08:00 hour when volume spiked to 90M units. The formation of lower highs since the peak suggests momentum may be waning, though the price continues to find support above the 0.810 level, indicating potential consolidation before the next directional move. In the last hour, ADA experienced significant volatility with a sharp rally followed by an abrupt correction. Price action showed strong momentum from 13:06 to 13:33, climbing from 0.816 to a peak of 0.827, representing a 1.3% gain. However, selling pressure intensified dramatically around 13:44, triggering a steep 1.5% decline to 0.809 within minutes. The formation of a double bottom at the 0.809-0.810 support zone prompted a moderate recovery, with price stabilizing in the 0.813-0.816 range by session's end. Volume analysis reveals particularly heavy trading during the correction phase, with over 2.7M units exchanged during the 13:44 candle, suggesting institutional profit-taking after the earlier uptrend. Disclaimer: This article was generated with 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 . This article may include information from external sources, which are listed below when applicable. External References " Cardano News: Major Upcoming Update To Boost ADA Price Back to $1 ", CoinPedia, published Mayb 13, 2025. " Cardano (ADA) Rallies 22% Amid Strategic Partnerships: Can ADA Price Hit $1? ", CoinPedia, published May 13, 2025.

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