February 27 News: Cardano’s native token ADA has risen nearly 20% over the past 48 hours, significantly improving its market cap ranking. According to CoinMarketCap data, ADA has re-entered the top ten; however, CoinGecko lists it as 12th due to differences in circulating supply calculations. Despite the ranking differences, signs of capital inflow are evident.
In terms of price, ADA is currently around $0.292, approaching the psychological resistance level of $0.30. The daily chart shows an RSI of about 50.9, in a neutral to slightly bullish zone, not yet in overbought territory; the AO indicator has broken above zero and turned green, indicating increasing bullish momentum. If the daily price can hold above $0.30, the next target could be around $0.34. Support levels are concentrated at $0.25, where significant buying interest was seen in early February.
On-chain data also supports this bullish outlook. Santiment data shows that over the past six months, “sharks” and “whales” have accumulated approximately 819.4 million ADA when the price dipped near $0.26. Institutionally, Grayscale Investments recently increased its Cardano holdings in its smart contract platform fund to 20.2%, making it the third-largest position.
Whether ADA can maintain its top ten market cap ranking depends on whether the $0.30 level can become a solid support and on overall market risk appetite. If trading volume increases alongside price, Cardano may continue to strengthen its position in the smart contract sector.
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