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Cardano (ADA) is gaining bullish momentum, bringing its price much closer to the $1 milestone. Over the last 24 hours, ADA has increased by 10%, reaching an intraday high of $0.825, its highest price level in weeks.
Cardano, the 10th-largest cryptocurrency by market value, was recently trading at $0.803 and is up 28% this week. ADA trading volumes have increased by 84% in the last 24 hours to $2.36 billion, according to CoinMarketCap data.
Cardano has rallied by more than 58% since its low point of $0.52 on June 22. What distinguishes this rally is the technical breakout that followed the price increase.
ADA has successfully breached both the 50-day and 200-day simple moving averages (SMA) at $0.639 and $0.747, respectively, which had slowed its upward momentum in recent months.
The SMA 50 had mostly capped the ADA price since December 2024, while the SMA 200, more substantially, provided short-term resistance and had capped the ADA price since March 2025. With this breakout achieved, traders are now expecting higher price levels.
Road to $1: What's next?
The next immediate target lies at $0.86, a high reached in May 2025. With current momentum and market structure favoring bulls, ADA appears to have a clear path toward the $1 mark, a level last reached in early March after the initial announcement of a crypto strategic reserve.
If Cardano can convincingly break through $0.86, analysts believe the move to $1 could follow swiftly, fueled by renewed investor interest and favorable technical signals.
Bearish signal invalidated
The close above the downtrend line at $0.75 invalidates a bearish descending triangle pattern, which had been brewing on the Cardano chart as price stalled for months.
The RSI in the overbought zone indicates that buyers have the edge. As previously stated, a close over $0.86 might push ADA's price to $1.
This positive view will be invalidated in the near term if the ADA price falls below $0.64. That suggests that the break above the downtrend line could have been a bull trap.
Vladislav Sopov
U.Today Editorial Team