Cardano’s Astonishing Ascent: $1, Here We Come!

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Attention, crypto enthusiasts and ADA aficionados! Cardano (ADA) is on a roll, and it’s bringing us one step closer to the coveted $1 milestone. Over the last 24 hours, ADA has skyrocketed by 10%, reaching an intraday high of $0.825, its highest price level in weeks. 🚀💸

Currently, Cardano is the 10th-largest cryptocurrency by market value, and it’s been trading at $0.803. But don’t let that fool you – ADA has seen a whopping 28% increase this week! 🎉📈

Trading volumes have increased by 84% in the last 24 hours to $2.36 billion, according to CoinMarketCap data. But wait, there’s more! Cardano has rallied by more than 58% since its low point of $0.52 on June 22. 📈💸

What’s even more exciting 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 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. 😞📉

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2025-07-17 17:16