Cardano Eyes $0.80 as On-Chain Data Signals Bullish Momentum

In a renewed wave of optimism, Cardano (ADA) is gaining traction in the market, with the token recently consolidating above $0.61 and showing signs of targeting the $0.80 resistance level. The surge follows a 6.4% rise in trading volume over the past 24 hours, alongside bullish on-chain signals.

Data from whale movements indicate that addresses holding 1M–10M ADA have collectively increased their holdings by nearly 30M tokens in the past week. This accumulation trend typically precedes price surges, as it reflects growing confidence among major investors. In addition, the average token age has decreased—often interpreted as tokens moving between wallets, a signal of strategic positioning.

Technical indicators are also leaning bullish. ADA's RSI sits around 64, still below overbought levels, suggesting room for further upward movement. The 50-day EMA recently crossed above the 200-day EMA, forming a golden cross pattern historically associated with sustained rallies.

On the development front, the Mithril upgrade and Hydra layer-2 scaling solution continue to advance. These technological updates are expected to further strengthen Cardano’s ecosystem and attract institutional attention.

Despite overall market hesitation, ADA's resilience points to a maturing project and a community unfazed by macroeconomic uncertainty. If bullish momentum continues and whales maintain their accumulation, ADA may soon test the psychological $0.80 level and, potentially, $0.90 before month's end.

360-Degree Assessment

Cardano is benefiting from a rare confluence of on-chain accumulation, favorable technical indicators, and developmental progress. With BTC stabilizing above $60K, market sentiment is cautiously risk-on. ADA’s medium-term outlook is strong, particularly if the broader market avoids significant downturns.

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