Cardano Soars 10% in 24 Hours: Has ADA Finally Awakened?

TL;DR

Cardano (ADA) has surged 10.43% in the last 24 hours to $0.9696, marking a five-month high and outpacing Bitcoin and Ethereum in daily gains.
Trading volume jumped 83.39% to $4.74 billion, showing a spike in market participation.
Analysts suggest ADA’s bullish breakout could drive prices up to 150% in the coming weeks, with long-term holders keeping 15 billion ADA untouched for over a year.

Cardano delivered a strong performance in the last 24 hours, climbing to $0.9696 and taking its market cap to $34.52 billion. The 10.43% rise placed it ahead of other major cryptocurrencies, reinforcing optimism among traders who believe the asset is entering a fresh upward cycle.

The new rally comes alongside an impressive 83.39% surge in trading volume, which now stands at $4.74 billion. This sharp increase points to growing participation from both retail and institutional players, with many positioning for potential larger gains. Some analysts also note that ADA’s liquidity profile has improved significantly, making it more attractive for high-volume traders and investment funds seeking exposure to strong-performing altcoins.

Bullish Breakout Signals Further Upside

Technical analysts highlight that ADA has broken out of a multi-month consolidation pattern, often referred to as a bull flag. Historically, such breakouts have preceded significant price extensions, and in this case, projections suggest a possible 100% to 150% rally. That could push ADA toward the $1.60 to $1.75 range, levels last reached during early 2024.

Well-followed traders are eyeing key resistance zones, including the November 2024 high near $1.32 and the mid-2022 peak at $1.63. Many see these targets as attainable if the current momentum continues and Bitcoin dominance eases, allowing capital to flow into top altcoins.

Long-Term Holders Show Conviction

One of the strongest signs supporting ADA’s bullish case is the resilience of long-term holders. Data shows that 15 billion ADA has remained untouched for over a year, signaling reduced selling pressure even during market fluctuations.

Chart: Cardano

Retail interest is also picking up. Google Trends data shows searches for “Cardano” have reached their highest level in five months, aligning with a broader rise in searches for “altcoin.” Historically, these spikes have coincided with phases of increased capital rotation from Bitcoin into alternative cryptocurrencies.

With ADA now breaking key technical levels, maintaining strong holder confidence, and enjoying renewed trading activity, market watchers suggest that this could be the beginning of a sustained upward phase for Cardano, especially if market sentiment across the altcoin sector remains supportive.