Cardano (ADA) has surged past a significant technical barrier, breaking through the $0.85 resistance level with a rally exceeding 7%. This surge is backed by a substantial increase in trading activity and reinforcing technical indicators, setting sights on the next potential target near $1.80.
The breakout establishes a new support zone for ADA between $0.56 and $0.59, providing a critical foundation for further bullish movement. Analysts identify $1.00 and then $1.80 as the next major milestones should this positive momentum be sustained.
Robust market participation underpinned the move, evidenced by ADA’s 24-hour trading volume climbing to $2.46 billion and its market capitalization reaching $32.73 billion. This heightened activity reflects increasing confidence among market participants.
Technically, the breakout from a falling wedge pattern observed on the weekly chart strengthens the case for a sustained upward trajectory. This classic bullish reversal pattern contributes to the positive outlook.
Following the decisive move above $0.85, investor sentiment has visibly shifted toward optimism, validating the potential for ADA to continue its rally toward the projected $1.80 target level.
On the supply side, Cardano’s circulating ADA approaches its maximum predefined threshold of 45 billion tokens, with current circulation reported at 35.39 billion ADA tokens.