Cardano (ADA) is facing a great opportunity to rise to the sky as it holds this support level.

The price of Cardano (ADA) has recently become the focus of investors' attention, after this coin unexpectedly surged, breaking out of the accumulation zone around the $0.70 mark. The breakout past the important resistance level at $0.80 has triggered a series of positive technical signals, igniting hopes for a new growth cycle.

Currently, analysts are closely monitoring market developments to assess whether ADA has enough strength to maintain an upward trend and move towards higher resistance zones in the near future.

Cardano aims for a target of $1.48

In recent days, the ADA price has officially broken out above the neckline of the ($0.74) pattern — a classic technical pattern that usually signals the continuation of an uptrend. According to analysis from BitMonty, the next potential resistance levels are located in the price zones of $1.1032, $1.3127, and $1.4846.

Source: BitMonty/XBAdditionally, data from World of Charts shows that ADA is challenging the resistance line of the long-term downtrend channel – a positive technical signal. Previously, in October 2024, this coin had recorded an increase of more than three times when breaking through a similar pattern.

Source: World of Charts/XWith the positive signals forming, the current outlook suggests that the recovery trend could extend to the zone price of $1,3730. If the upward momentum continues to be maintained, the level of $1,4846 could definitely be reached in the near future.

The fact that ADA maintains the $0.74 mark on the daily or weekly chart will be a crucial factor in reinforcing bullish expectations. However, the success of this breakout also largely depends on trading volume and the level of interest from the investor community in this cryptocurrency.

The development ecosystem promotes the long-term demand for ADA

Ignoring short-term price fluctuations, the Cardano ecosystem is witnessing stable and sustainable growth. According to the latest report from Messari, the total market capitalization of stablecoins operating on Cardano surged by 30% in the last quarter, reaching 30 million USD, mainly due to the launch of the USDA coin issued by Anzen Finance.

! Source: CoinglassCardano's (DeFi) decentralized finance sector also recorded an impressive 13% growth, while the amount of ADA held in the network's treasury increased by 5%. These figures show that more and more investors and users are actively participating in applications built on the Cardano platform. In addition, the implementation of the network "constitution" has helped to strengthen the process of decentralizing the governance system, with the increasing participation of (DReps) decentralized representatives.

As of now, the market capitalization of ADA has reached 27.44 billion USD, while the fully diluted valuation (FDV) stands at 34.96 billion USD. The total circulating supply has reached 35.32 billion ADA, approaching the maximum supply threshold of 45 billion tokens. The trading volume to market cap (volume-to-market cap) ratio is at an average of 5.01%, reflecting a stable level of market interaction.

On the market, the price of ADA is currently trading around $0.75, down slightly by 1% in the last 24 hours, after reaching a local peak near $0.84. Notably, if ADA continues to hold the support level at $0.74 and maintains its upward momentum, higher price targets such as $1.1032 – and even further – remain entirely feasible.

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