Cardano (ADA) Shatters Trendline Following a 20% Daily Increase, Setting Its Sights on $1.54

Cardano (ADA) has seen a significant surge, breaking a descending trendline that had been in place since late 2024. This upward movement, which at one point resulted in a weekly gain of over 22%, has pushed ADA to just above $1. The break in the trendline was supported by strong trading volume, indicating robust activity. This breakout represents ADA's best weekly performance in several months, with the price now above previous resistance levels.

Potential targets if the upward trend continues are $1.13, $1.31, and $1.54. However, a drop below $0.80 could indicate a failure in the breakout, potentially leading to a price drop towards the $0.55 to $0.60 range. Network usage and volume are also on the rise, with daily active addresses reaching 42,309 and a 24-hour trading volume of 2.21 billion ADA.