ADA Surges 3.7% as Trading Volume Hits $749 Million, Approaches Key Resistance at $0.87

Cardano (ADA) has demonstrated strong upward momentum over the past 24 hours, with the ADA/USDT pair rising approximately 3.71% to $0.7991 and trading volumes reaching around $749.5 million. The asset’s market capitalization stands at $26.31 billion, and ADA has gained 25.53% over the last 30 days, reflecting sustained interest and positioning it among the top cryptocurrencies by market value.

The recent price increase is attributed to significant bullish sentiment, as ADA rebounded from the $0.7224 support level and approached key resistance near $0.87. High trading activity, including over 190 million ADA exchanged in the last day, suggests strong market participation. Despite a decline in on-chain activity and decentralized exchange volumes, large withdrawals of ADA from exchanges since January may have reduced available supply, contributing to upward price pressure. ADA’s inclusion in trading competitions and ongoing positive community sentiment have further supported its recent gains, although notable intraday volatility and brief pullbacks indicate that traders remain cautious and attentive to potential resistance and support levels.