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Cardano (ADA) to $1 Reality Just Got Closer: Details
Cardano has made significant gains since June lows, and it seems the cryptocurrency’s price is moving closer to the highly anticipated $1 milestone. Over the past 24 hours, ADA has surged by 10%, reaching an intraday high of $0.825, a level not seen in weeks.
The token has rallied by more than 58% since its low point of $0.52 on June 22. This impressive increase is accompanied by a technical breakout that followed the price rise. The ADA chart shows that it has successfully breached both the 50-day and 200-day simple moving averages (SMA) at $0.639 and $0.747, respectively, which had previously impeded its upward momentum.
The SMA 50, which mostly clogged the ADA price since December 2024, provided short-term resistance and capped ADA’s price since March 2025. The recent SMA break has allowed ADA to accelerate its upward momentum further.
Considering this technical breakout, traders are now expecting higher price levels for the token.
Source: u.today
