Cardano rose 29% in seven days, testing its 200-day moving average resistance at $0.749 on renewed crypto market momentum.
Analyst Ali suggests a confirmed breakout may drive ADA toward the $0.90–$1.20 price range, following months of market consolidation.
Charles Hoskinson expects trillions to enter altcoins as Bitcoin surges, citing upcoming regulatory clarity as a key market catalyst.
Cardano (ADA), the tenth-largest cryptocurrency by market capitalization, has surged by 29% over the past seven days. At the time of writing, ADA rose by 3.79% in the last 24 hours to reach $0.7398. This price movement comes amid broad bullish momentum sweeping across the crypto market.
On the daily chart, ADA is testing the 200-day simple moving average at $0.749, a critical resistance zone. Price action earlier in the week saw ADA briefly surpass this level, reaching a high of $0.777 before pulling back. The technical level continues to act as a barrier for further upward movement.
Analyst Predicts ADA Target Toward $0.90–$1.20 Range
In this daily adjustment, ADA is encountering a significant resistance zone at the 200-day simple moving average around a price of 0.749. ADA pushed above this level earlier this week, but price action failed to maintain levels above as the price held at a high of $0.777 before reversing back. The technical level still plays its role as an obstacle to further upward spiral.
As ADA gains strength, Cardano founder Charles Hoskinson has drawn attention with a bold market outlook. On Friday, following Bitcoin's rise to a record high above $118,000, Hoskinson tweeted that a major influx of capital is expected to flow into altcoins. He noted that upcoming regulatory clarity through the Genius and Clarity acts could be a key driver for this shift.
Cardano Ecosystem Growth Adds to Momentum
The recent rally in the price of Cardano has also been coupled with events in the Cardano world. The network experiences additional development of controlling and the technical improvements. The community activity and the number of developers around it are still active, and this is an indication of more support in the recovery of ADA.
Market fervor and technical breakout attempts, with more attention being paid to it by big names, have led Cardano into the limelight. Subsequent breakout above the prevailing resistance can trigger a new leg of the price action trend in ADA as analysts continue to monitor the possibility of a continued upswing in the coming weeks.
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