- Cardano jumped nearly 10% to $0.91, with trading volume up 134%.
- A cup-and-handle pattern suggests targets of $1.30–$1.55 if breakout holds.
- ADA must clear $1 with strong volume to confirm momentum; failure risks drop to $0.80.
Cardano’s price has been climbing steady, adding nearly 10% in the past 24 hours to hold just above $0.91. The move comes after a clean breakout, with the broader crypto market flashing green too—Bitcoin sits around $115K, Ethereum just logged another all-time high, and Solana is back above $200. ADA’s momentum is now pressing against a key resistance at $0.95, and a strong close above that could open the door toward the big $1 level.
Market cap across crypto has ballooned to $3.97T, with daily trading volume hitting $253B. For Cardano specifically, volume has exploded 134% to $3.09B, signaling that buyers aren’t just nibbling—they’re stepping in with size. Analysts are watching for confirmation from a golden cross on the charts, which would further cement the bullish case. Adding fuel to sentiment, the Cardano community recently approved a $71M development fund, bolstering the long-term growth story and setting the stage for ETF speculation in 2025.
Cup-and-Handle Pattern Signals More Upside
One bullish setup catching traders’ eyes is a cup-and-handle pattern forming on ADA’s daily chart. The rounded “cup” has been shaping for months, and the recent sideways action looks like the handle in progress. If ADA breaks out properly above resistance, the technical projection points toward $1.30. From there, momentum could carry it as high as $1.55, especially if fresh demand follows. These levels are seen as major breakout points that could pull in sidelined buyers.
Derivatives Market Lights Up
The bullish narrative isn’t just in spot trading. Cardano derivatives have seen a sharp surge in activity, with traded volume spiking over 74% to reach nearly $7B. Open interest also jumped 16.5% to $1.78B, showing more traders piling into positions. Typically, rising open interest signals growing conviction about price direction, and in ADA’s case, that conviction looks tilted to the upside.
Can ADA Hit $1 This Month?
At $0.91, ADA has been chopping in a narrow band between $0.90 and $0.91, suggesting indecision—but technicals are leaning bullish. The RSI sits at 54, just above neutral, while the Chaikin Money Flow is positive at 0.13, pointing to steady inflows. On the 4-hour chart, ADA needs to reclaim $1 on strong volume to unlock higher targets at $1.10 and $1.20. Failing that, a dip back under $0.90 could spark selling pressure that drags the token toward $0.80 support.
For now, the bias remains positive. A decisive move through $1 could flip Cardano into breakout mode, while its growing derivatives activity hints that traders are positioning for just that.
