Cardano ADA Targets $0.80: ETF Hopes and Reward Program Spark Bullish Momentum - Blockonomi

TLDR:

• Cardano price holds above $0.695 resistance, signaling a potential breakout toward $0.80.
• Inclusion in the Nasdaq crypto index sparks renewed institutional interest in ADA.
• Cardano launches new reward program to recognize long-term token holders.
• Volume and on-chain data point to growing momentum behind ADA’s latest rally.

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Cardano’s ADA token is approaching a key turning point after climbing above $0.695 resistance within an ascending channel. The price action follows a strong recovery from late May lows, showing renewed investor interest. 

On-chain trends and institutional movements suggest growing momentum behind the ADA price. Meanwhile, ecosystem developments, such as ETF prospects and reward incentives, are fueling optimism.

Cardano Price Recovery Signals Bullish Continuation

After falling below $0.60 in late May, the Cardano price began forming higher lows within a rising pattern. This bullish formation has now pushed the price above the $0.695 resistance level, a crucial barrier for trend confirmation. 

According to InvestingHaven, a breakout above this point could validate a continued uptrend toward $0.80.

$ADA Poised for Breakout

Cardano is testing key resistance near $0.695 within an ascending channel.

On-chain signals and institutional activity point to increasing bullish momentum.#ADA confirmed breakout could open the path toward $0.80 pic.twitter.com/nIW2JIWoht

— InvestingHaven (@InvestingHaven) June 11, 2025

Volume analysis also reflects growing buyer interest, with green candles gaining strength during recent climbs. These signals support the view that institutional and retail buyers are re-entering the market. 

If ADA breaches the upper band of the channel, it may open room for a sustained rally.

Institutional adoption appears to be gaining ground following ADA’s inclusion in a key index. The Cardanians posted that ADA was added to the Nasdaq Crypto US Settlement Price Index (NCIUS), which guides the Hashdex Nasdaq Crypto ETF. 

The ETF may soon expand its holdings if the SEC approves a related rule change.

With the NCIUS broadening from five to nine assets, ADA’s presence signals rising recognition among institutions. This shift could offer broader exposure to ADA alongside leading assets like Bitcoin and Ethereum. 

Market watchers believe the potential ETF listing could bring fresh capital into Cardano.

ADA Reward Program Reignites Community Engagement

Community support continues to play a critical role in Cardano’s ecosystem. A post by Cardano News revealed a new ADA reward program aimed at loyal holders. 

Initiated by Charles Hoskinson, the program is designed to appreciate supporters who remained during market downturns.

We’re excited to announce the official launch of the $ADA Reward Program for the entire Cardano community!

This exclusive opportunity is our way of thanking those who stood by #Cardano during challenging times.

To learn how to claim your $ADA, check the details below 👇🏻 pic.twitter.com/k3wRGyEOOe

— Cardano News (@cardano__news) June 10, 2025

This follows previous Cardano efforts like the Midnight airdrop, which enhanced cross-chain activity and user incentives. These initiatives help foster long-term engagement while strengthening ADA’s position in the proof-of-stake landscape.

At publication, according to data from CoinGecko, Cardano trades at $0.7134 with a 24-hour volume of over $787 million. This marks a 1.30% increase in 24 hours and 2.26% over the past week. 

Momentum remains strong as bulls aim for the next major milestone at $0.80. If the breakout sustains, Cardano may regain its position among top-performing assets in the market.