TLDR

  • ADA is currently priced in the $0.26–$0.27 range, having increased 3.37% over 24 hours, while its trading volume surged 73.77%.
  • A cryptocurrency analyst suggests that a breakout from a falling channel pattern could propel ADA to a 100% gain, reaching between $0.50 and $0.60.
  • Cardano’s total value locked (TVL) increased by 2.59% in 24 hours, reaching $145.44 million.
  • The TD Sequential indicator has generated a buy signal; the previous occurrence of this signal preceded a 307% surge in ADA’s price.
  • Approximately 130 million ADA were moved by large holders, or “whales,” last week, an activity analysts interpret as a redistribution of assets rather than a sell-off.

The price of Cardano (ADA) is hovering between $0.26 and $0.27, reflecting a 3.37% gain in the last day. This uptick occurred alongside a 1.87% rise in the wider cryptocurrency market, which saw Bitcoin surpass the $72,000 mark.

Cardano (ADA) Price
Cardano (ADA) Price

ADA has also gained approximately 5% over the past week. A significant jump in trading volume of 73.77% to $668.52 million indicates heightened market activity compared to recent periods.

The Relative Strength Index is positioned near 54, hinting at neutral-to-bullish momentum. A mild bullish crossover is visible on the MACD indicator’s four-hour chart, with its histogram bars turning marginally positive.

Analyst Eyes 100% Upside on Breakout

A crypto analyst posted a chart depicting ADA’s movement within a falling channel on the daily chart. At the time of the analysis, ADA was trading close to the pattern’s lower boundary.

According to the analyst, a confirmed breakout above the channel’s resistance could initiate a powerful upward trend. Such a move might first drive ADA’s price toward $0.50, with a potential extension to $0.60 if bullish conditions strengthen.

Should ADA climb above $0.27, the immediate target would be $0.28. A sustained close above $0.28 could then pave the way for a move toward $0.30.

Conversely, if the price fails to maintain support at $0.26, it could lead to increased selling pressure. Subsequent support levels are identified at $0.2550 and $0.25.

In a separate observation, analyst Ali Martinez highlighted a buy signal from the TD Sequential indicator on Cardano’s higher-timeframe chart. The last instance of this signal was followed by a price increase exceeding 307%.

Cardano TVL Rises, Whale Activity Tracked

Data from DeFiLlama shows Cardano’s total value locked (TVL) rose to $145.44 million on Friday, marking a 2.59% increase within 24 hours. This points to ongoing engagement within decentralized finance (DeFi) protocols built on the Cardano network.

On-chain analytics indicate that large holders transferred or redistributed roughly 130 million ADA tokens over the past week. Such substantial movements are typically viewed by analysts as a reshuffling of liquidity instead of a sign of selling.

ADA’s price is currently consolidating beneath a descending trendline while maintaining support above the $0.25–$0.26 zone. A successful break above this trendline could set a target of $0.33–$0.34, with a further advance toward $0.45 possible upon clearing that level.

Based on the most recent data, ADA was trading near $0.2672.