last 24 hours. This comes as the crypto market also turns red, with Bitcoin, Ethereum, and XRP facing similar declines following a slow weekend. Despite the dip, there are signs of possible upside. Crypto analysts point out that large investors accumulated over 410 million ADA in April; a sign some see as bullish. According to Crypto Capital Venture, ADA is in a similar position to previous cycles where it dipped before a strong breakout. ADA’s Next Technical Hurdles Cardano is still stuck under an important resistance level. It tried to push higher last week but couldn’t hold above resistance. This $0.67 area is now a support zone to watch; if it holds, a bounce is possible. For a real bullish turn, Cardano needs to decisively break through resistance levels at $0.77 and then $0.80. Source: TradingView What happens next for ADA likely hinges on the broader market, especially upcoming comments from the U.S. Federal Reserve Chair Jerome Powell, as well as possible changes in monetary policy. Related: BREAKING: Cardano Launching AI Testnet – ADA Price Primed for Rally If economic news is favorable, ADA could begin a larger breakout, possibly aiming for $1.25 in the longer term. Still Waiting on Altcoin Season? Looking at the bigger picture, the market isn’t quite ready for a full-blown altcoin rally yet. The CMC Altcoin Season Index shows the market is still in “Bitcoin Season,” with a current score of 26 (upon 100). That’s better than last month’s 16, but still a long way from the 75 needed to declare “Altcoin Season.” Data from the CMC Altcoin Season Index indicates that the market remains in a Bitcoin Season, with the current score at 26/100.Compared to last month’s 16, altcoins have shown a slight recovery, but it's still not strong enough to enter “Altcoin Season” (which requires a score… pic.twitter.com/xWvMQKNuPy — ScalpingX (@ScalpingX) May 5, 2025 This means capital continues to flow mainly into Bitcoin. Although altcoins are slowly recovering, momentum remains weak. Analysts suggest Bitcoin dominance could still rise to around 70% before falling again. Related: ADA’s Most Contentious Vote Yet Proved Its On-Chain Democracy However, there are positive signs for altcoins building in the background. Global liquidity is also rising, a trend that has supported past crypto bull markets. Combined with mounting pressure for U.S. interest rate cuts, and a neutral-to-bearish market sentiment, several indicators point to a favorable setup for altcoins in the coming months. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.