Cardano Hits $1, but Bulls Meet Unexpected Surprise

Key Points

1. Cardano (ADA) surged 16% to $1.01, reaching a level last seen in March 2025, driven by bullish momentum and a golden cross pattern.

2. The rally was met with a sell-off at the $1 mark, causing a sharp decline as investors took profits and considered macroeconomic risks.

3. Despite the pullback, ADA retained daily gains of 4.33% and weekly gains of 21%, trading at $0.923 at press time.

4. Macroeconomic factors, including higher-than-expected PPI data and lower jobless claims, contributed to market uncertainty, impacting crypto prices.

5. Bitcoin and Ethereum also declined, leading to a broader downturn in the crypto market.