Cardano’s decentralized finance ecosystem has reached a significant milestone, with its total value locked exceeding 500 million ADA. Concurrently, analysts note that the ADA token has flashed a potential trend-reversal signal on its weekly chart. For this bullish setup to remain valid, the cryptocurrency must hold a key support level at approximately $0.23, with further price targets identified between $0.32 and $0.37.
The Cardano network has surpassed 500 million ADA in total value locked, a major milestone signaling strong growth in its DeFi ecosystem. According to analyst Mintern, this reflects rising user activity and locked funds across the blockchain’s protocols.
Experts say the achievement highlights expanding DeFi adoption and could support further ecosystem growth. This positions Cardano as a stronger competitor among leading smart-contract platforms.
Following this on-chain development, Cardano (ADA) is showing signs of a potential trend reversal. Analysts point to a TD Sequential black 9 formation on the weekly chart, a pattern often seen near the end of a bearish period.
According to crypto analyst Ali Charts, this pattern suggests a potential rally could occur within one to four weeks. For the bullish setup to stay on track, ADA must hold the $0.23 support level through a weekly close.
If that support holds, resistance is expected near $0.32 and $0.37. A break below $0.23 would indicate the prior downtrend remains intact.
Current technical data from TradingView shows ADA trading near $0.2679, below its 20-period moving average. The middle band of the indicator has been established as resistance at $0.2768, indicating a bearish bias in price movement.
The Relative Strength Index sits at 41.24 and is declining further below its moving average. This suggests sellers dominate and the token may continue trading in consolidation near March’s lows.
