Cardano’s $1.22 target: Why traders should be aware of THIS ADA setup

Key Points

1. Cardano has exited a long-term downtrend, gaining 26% in the past week and 2.67% in the last 24 hours, with bullish technical momentum.

2. ADA must reclaim and hold $0.7468 to sustain its breakout; failure could lead to selling pressure, while success may push it toward $0.95–$1.12, with $1.22 as an extended target.

3. Daily Active Users (DAU) rose to 27,000, and Transaction Count exceeded 38,000, indicating strong on-chain activity supporting the bullish case.

4. Technical indicators like the Average Directional Index (ADX) at 27.64 and Money Flow Index (MFI) at 73.64 confirm strong directional momentum and buyer conviction.

5. Liquidity and utility improvements suggest continued bullish potential, but resistance levels remain a critical hurdle for ADA's upward movement.