• Cardano nears $0.80 as bullish momentum and sentiment drive the price higher.

  • Liquidation clusters and short squeezes add pressure, favoring further upside for ADA.

  • Whale activity remains low, but retail demand fuels strong intraday performance.

The recent surge has brought Cardano's ADA to the upper resistance of a descending parallel channel around the $0.708 level, indicating a potential breakout. Sentiment across both retail and institutional traders has turned decisively bullish, with crowd sentiment at 0.81 and smart money sentiment higher at 0.99. This optimistic shift coincided with ADA’s advance to the upper boundary of a descending channel, suggesting a possible continuation if ADA clears nearby resistance.

https://twitter.com/CryptoJulzss/status/1920761301208322268?t=93McMA89xviLtpyGSOWntw&s=19 Liquidation Pressure and Technical Indicators

On-chain metrics from IntoTheBlock revealed a significant decline in large transaction volumes. Transactions above $1 million have dropped by 83.54%, and those above $10 million have plummeted 86.93% from peak levels. Despite ADA’s recent price jump, the absence of major whale activity suggested that this move was retail-driven. However, the re-entry of institutional capital could accelerate the uptrend if momentum sustains and ADA breaks key levels.

Santiment’s MVRV Ratio shows ADA’s intraday profitability has jumped to +13.34%, reflecting increased unrealized profits among holders. This metric suggested the market may be entering a decision zone—either leading to continued optimism or triggering profit-taking. The ratio remains below the 25% risk threshold, which typically signals elevated sell pressure, leaving room for upside if current sentiment holds.

Future Outlook and Price Targets

ADA has reclaimed the 0.618 Fib level at $0.6921 and is eyeing the 0.786 Fib zone of $0.7186. Beyond that, the next upside targets lie at $0.7523 and $0.8498, aligned with Fib 1.0 and 1.618 extensions. The DMI indicator supports this bullish thesis, with the +DI line above both the -DI and ADX, signaling a strengthening trend. Price structure, momentum indicators, and liquidation pressure all point to a potentially explosive breakout if ADA holds above $0.72.

The combination of strong bullish sentiment, short squeezes, technical strength, and improving on-chain profitability provides a compelling case for continuation. However, the lack of whale re-engagement introduces caution. If Cardano can climb past the $0.75 mark and flush out the dense cluster of short positions, bulls might have a clear path to drive ADA toward $0.80 — and possibly even higher in the near term. Right now, Cardano’s ADA is riding a wave of strong momentum, backed by upbeat price action and encouraging signals from key technical indicators.

With major resistance levels just ahead — especially the critical $0.80 zone — ADA looks primed for a potential breakout that could push it closer to that $1 milestone. Still, the lack of big-money whale activity stands out. That tells us this rally might be powered mostly by retail traders for now. If institutional investors decide to jump back in, it could light a fire under the uptrend. For now, traders should keep an eye on those resistance levels and check on-chain data to see if this rally really has legs.