Cardano (ADA) edged near the coveted $1 milestone during Monday's spectacular rise, reaching a high of $0.93, a level not seen since March 2025. While the move prompted excitement in the ADA community, momentum stalled just before a breakout to $1, leaving investors wondering if this is merely a halt or the end of the run.
ADA's recent price surge coincided with a wave of renewed market optimism, with bullish sentiment propelling large-cap altcoins upward. Cardano gained attention for forming a "god candle," a massive green candlestick that indicates a strong shift in momentum.
This sharp upward movement was viewed as the start of a long-awaited recovery rally, with the potential to push Cardano back above $1 after months of consolidation and underperformance. Cardano dropped below $1 for several months, from May 2025 to October 2024, before it touched the milestone again.
What happened?
Cardano has consistently gained since July 8 from a low of $0.573, exceeding the daily SMA 50 and 200 at $0.655 and $0.746, respectively.
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Despite the positive trend, ADA was unable to break over the important resistance level near $0.95, reaching $0.935 on July 21. Profit-taking, a market-wide cooldown and psychological resistance at $1 all contributed to the stall.
Additionally, technical indicators showed signs of overbought conditions, which may have triggered short-term caution among traders.
At press time, ADA was down 3.97% over the last 24 hours to $0.886 amid recent profit-taking on the market.
Despite this, hope is not lost, as Cardano may be consolidating before rallying to the next level. If ADA exceeds $1, it may eventually surpass $2.
Cardano's Lace wallet has received a new update, v.1.25, which lets users convert their digital valuables into high-quality physical artwork. Lace has introduced support for embedding metadata in Bitcoin transactions.
