#Cardano ($ADA ) has broken out of its ascending triangle once again, setting the stage for what could be a major rally. Our breakout lines are TP1 = $0.9311 and TP2 = $1.0138, with resistance at $0.90. Our invalidation sits between $0.8604 and $0.8259, where a drop below could stall the move.
One of the key drivers behind this surge is Grayscale’s registration of the Cardano Trust in Delaware, sparking fresh speculation about a future $ADA ETF and drawing the attention of institutional investors. This development mirrors steps taken before ETF launches for Bitcoin and Ethereum, fueling optimism that ADA could follow a similar trajectory.
Cardano's momentum has also been lifted by Ethereum’s rally to $4,666, which pushed altcoins across the board higher. In the last 24 hours, $ADA has surged 12.39%, outperforming much of the market and benefiting from the broader bullish wave hitting large-cap cryptocurrencies.
24-hour trading volume hit $2.43 billion, showing heightened activity while leaving room for deeper liquidity if more buyers step in. Coupled with ascending support and rising volume, this setup screams continuation if momentum holds — with the $1 psychological mark now firmly in traders’ sights.
