ADA forms a bullish flag on a 3D chart with $1.50 target as momentum and volume rise.
Over 70% of ADA supply is staked; on-chain data shows 10% rise in deposits since June 12.
ADA social mentions jump 25% amid ETF optimism and renewed DeFi ecosystem activity.
Cardano (ADA) is showing renewed technical strength as it forms a bullish flag pattern on the 3D chart. This structure, often seen during continuation phases, is supported by key developments across Cardano’s ecosystem, strong community engagement, and rising social momentum. ADA is currently trading at $0.6315 with attention growing around its next move.
Technical Pattern Suggests Momentum Building for ADA
Crypto Mullah, a crypto analyst, stated that ADA is shaping a bullish flag pattern on the 3D chart, often a sign of trend continuation. ADA’s Relative Strength Index (RSI) stands at 58, which indicates balanced momentum without overbought conditions.
https://twitter.com/MOLVI_Y3/status/1933857525239034281
Additionally, the MACD line crossed above the signal line on June 14, signaling growing upside momentum. Volume trends also reflect renewed interest. ADA’s 24-hour trading volume has reached $320 million, surpassing its seven-day average.
ADA’s price has increased by 3.2% in the last 24 hours, with key support holding above $0.6176. The breakout target based on the current flag pattern could place ADA near the $1.50 mark, as suggested by a recent observation from World Of Charts.
Ecosystem Activity and Institutional Momentum Add Support
Cardano’s rise in market engagement is supported by strong DeFi metrics and staking activity. On-chain data from Glassnode shows a 10% increase in staking deposits since June 12, and over 70% of ADA’s circulating supply is currently staked.
These figures indicate growing confidence among holders. Social media platforms have also seen a spike in Cardano-related activity. ADA mentions increased by 25% over a 24-hour period, largely due to founder Charles Hoskinson’s treasury proposal and ADA's growing DeFi presence.
Meanwhile, institutional signals remain positive. Bloomberg reported a 75% chance of approval for Grayscale’s ADA ETF, which may further support ADA’s mid-term breakout potential.
The post ADA Forms Bullish Flag on 3D Chart, Here’s the Price Target Analysts Are Watching appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.
