Key Insights:
ADA breaks the long-term descending channel, signaling a bullish market reversal.
Trading volume spikes over 91%, reflecting strong investor participation.
Key resistance at $0.85 breached; $1.80 emerges as the next major price target.
Cardano (ADA) is making headlines as it ignites a powerful rally, capturing the attention of crypto investors worldwide. ADA has skyrocketed more than 7% within the last 24 hours, with an overwhelming increase in trading volume and heart-warming optimism in the market. Technical charts indicate there was a considerable breakout of the long-term downward trend, which would hint at the beginning of the long-term upward trend. With ADA climbing critical resistance spots and the momentum crops, analysts are now focusing on the $1.80 mark, which has yet to be observed on the asset in more than a year.
According to FLASH, Cardano (ADA) has broken out of a significant descending channel on the weekly chart, marking a bullish shift in market structure and setting sights on a potential rally toward the $1.80 level. The breakout follows a period of accumulation within the $0.56–$0.59 support range and a successful retest of this zone, which now acts as a strong foundation.
Source: X
The chart reflects a classic falling wedge breakout—historically a reliable reversal signal—supported by rising volume and strong bullish candles. If ADA sustains momentum above $0.85, the next major resistance lies at the psychological $1.00 level, with $1.80 as a mid-term technical target based on past fractal patterns and measured moves.
Cardano (ADA) Soars Over 7% Amid Surging Market Activity
Cardano (ADA) has experienced a robust 7.5% price surge over the past 24 hours, climbing to $0.9248 as of the latest update. The rally is preceded by the sharp growth of trading volume, as it tripled to more than 91%, reaching $2.46 billion. The current market capitalization of ADA is $32.73 billion, whereas its fully diluted valuation (FDV) is $41.61 billion.
The trend of price indicates a successful break of the low at approximately $0.8641 and a high-level positive trend since the middle period on 21st July. This bullish momentum reflects renewed investor confidence, pushing ADA closer to its $45 billion maximum supply, with 35.39 billion currently in circulation.
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