Cardano (ADA) Surges 60% in a Month — Is a Breakout Above $1 Next?

Sean Williams
Cardano-ADA

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Key Takeaways:

  • ADA has rallied 60% in four weeks, reaching a four-month high and strong bullish technical signals.
  • Open interest and trading volume are surging, confirming new capital inflow and strong market conviction.
  • If momentum holds, Cardano could break through the $1 psychological barrier in the coming sessions.

Cardano (ADA) has reentered the spotlight after a sharp 60% price rally in just four weeks, sparking renewed optimism among crypto investors. With momentum building across technical indicators, liquidity metrics, and market sentiment, analysts are now wondering whether ADA is gearing up to reclaim the elusive $1 level.

ADA’s Bullish Setup Supported by Technical Strength

Despite a minor 1.39% dip that pulled ADA back to $0.8725 at press time, the coin’s broader technical structure remains bullish. Just days ago, ADA surged past $0.92—a four-month high—hinting at a sentiment shift among traders.

The network’s fundamentals are also aligning with price action. According to DeFiLlama, Cardano’s Total Value Locked (TVL) surpassed $412 million this week, reflecting renewed user confidence in the ecosystem. Technical indicators like the Relative Strength Index (RSI) have also turned positive, climbing to 58—a clear sign of bullish momentum.

Futures Market Sees Explosive Growth in Open Interest

Futures data adds more fuel to the bullish narrative. Open interest (OI) in ADA derivatives has rocketed from $1.18 billion on June 14 to a record $1.66 billion this week. The significance? New capital is pouring in, rather than rotating from other altcoins.

This spike in OI indicates heightened trader participation and belief in further upside. With rising RSI and healthy TVL backing the move, many analysts believe ADA is poised to challenge key resistance near $1.

Soaring Trading Volume Confirms Market Conviction

Strong rallies require liquidity, and Cardano is delivering on that front. According to Token Terminal, ADA’s weekly trading volume jumped from $8.12 billion to $10.30 billion—the highest since March.

Also Read: Cardano (ADA) Eyes $1 as Price Surges 60% and Open Interest Hits Record High

This sharp increase in volume reinforces the strength behind ADA’s recent rally. Traders have been accumulating positions, and the volume surge confirms conviction among buyers. With liquidity and participation growing in tandem, ADA’s momentum appears sustainable.

Cardano’s recent surge is more than just another altcoin pump. Backed by rising TVL, bullish technicals, record derivatives activity, and increasing volume, ADA looks ready to test $1 resistance soon. If bulls maintain control, that level could become a new support floor—not just a fleeting target.

Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.

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