🔥 ADA Surge Incoming? Cardano’s $1 Mission Gains Traction Amid Soaring Network Metrics
🚀 Breakout Momentum Targets $0.80+ Cardano has surged to nearly $0.80 after a breakout from its descending channel. Bullish momentum is intensifying as network and trading activity show strong upside potential.
📈 On-Chain Spike Signals Demand Santiment data shows Cardano’s 24-hour Unique Active Addresses (UAA) jumped to 30.9K from 29.6K. This rise reflects heightened user engagement and network utility in response to ADA’s rally.
💹 Profit Transactions Climb Sharply The on-chain ratio of transaction volume in profit vs. loss soared from 1.790 to 4.808, indicating a clear trend of profitable trades. More traders are selling ADA above their entry price, underscoring growing demand.
💰 Open Interest Breaks Out CoinGlass reports a 12% spike in ADA Open Interest over the last 24 hours, now at $1.43 billion. A rising OI—alongside a funding rate increase to 0.0107%—signals capital inflow and buyer dominance.
📊 Technical Support Holding Steady ADA holds firm above $0.7854—now a key support level after the breakout. Bulls eye a return to $0.8599, last seen on July 23. A drop below $0.7854 could retest the 100-period EMA at $0.7589.
Cardano bulls are charging. With rising trading interest, bullish funding rates, and expanding on-chain activity, ADA may be gearing up for a potential run at the $1 milestone.
