- ADA is up 19% in a week, driven by governance upgrades and ETF speculation.
- Cardano broke key resistance, opening short-term targets at $1.02 and $1.20.
- Falling trading volume signals caution, with $0.90 as a crucial support to watch.
Cardano has been buzzing again, posting a 4% gain in the last 24 hours to sit just under the $1 mark at $0.9587. Over the week, ADA has climbed nearly 19%, bringing its market cap to $34.12 billion. Interestingly, while the price is up, trading volume has actually dropped 40% to $3.51 billion—a sign that profit-taking is kicking in even as momentum builds.
Governance and Institutional Sparks
One of the big drivers behind ADA’s rally is governance progress. The Cardano Foundation just approved ₳605k ($571k) to fund a content delivery network for developers, boosting decentralization while improving dApp infrastructure. This isn’t just paperwork—wallets like Eternl and Vespr already rely on this setup, meaning real utility could scale faster.
Then there’s the ETF angle. Grayscale has quietly filed Delaware trust registrations for a potential Cardano ETF. While SEC approval is far from guaranteed, it mirrors the playbook they used before their Bitcoin and Ethereum trusts went live. Plus, Grayscale’s Smart Contract Fund already allocates 20% to ADA, underlining rising institutional appetite.
Breaking Resistance and Setting New Targets
From a technical perspective, ADA has done something important—it cleared the $0.84–$0.89 resistance band.Backed by an RSI reading of 71.45 and a positive MACD histogram of +0.0167, this breakout also invalidates a descending channel that had capped ADA since mid-2022. The last time this setup played out? It preceded ADA’s 3,000% run between 2020 and 2021.
Right now, the short-term target sits at $1.02, with a stretch goal of $1.20 if momentum holds. On the 4-hour chart, ADA is consolidating near $0.9428, just under resistance after touching a daily high of $0.9753. Support is locked in at $0.8241—lose that, and the bullish case weakens fast.
Risks Lurking Beneath the Rally
Despite the optimism, there are cracks to watch. Trading volume has declined, a red flag suggesting fewer participants are driving the rally. If ADA fails to hold above $0.90, a pullback toward the mid-$0.80s looks likely before any attempt at a higher leg. In short, momentum is here, but it’s fragile—and the next few days could determine whether ADA pushes above $1 or slips back into chop.
