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Cardano (ADA) to $1 Reality Just Got Closer: Details
As the cryptocurrency market continues to experience a surge in momentum, it appears that Cardano’s ADA token has gained significant ground, bringing its price ever closer to the coveted $1 milestone. In the past 24 hours alone, the asset has seen a notable increase of 10%, reaching an intraday high of $0.825 and surpassing its highest level in weeks.
In the midst of this rally, it is essential to note that ADA’s trading volumes have increased by a substantial 84% within the same time frame, reaching $2.36 billion, according to data provided by CoinMarketCap.
It is crucial to understand that the price has surged over 58% since its low point of $0.52 on June 22, and the technical breakout that has followed this increase. This phenomenon is critical as it has allowed ADA to breach both the 50-day and 200-day simple moving averages (SMA) at $0.639 and $0.747 respectively, which had previously capped its upward momentum in recent months.
The SMA 50 had largely limited the ADA price since December 2024, while the SMA 200 had offered short-term resistance, capping the ADA price since March 2025. However, with this breakout achieved, traders are now anticipating higher price levels.
As a result, it appears that the next immediate target lies at $0.86, which is the high reached in May 2025. With its current momentum and market structure favoring bulls, ADA seems to have an open path towards reaching the $1 mark, a level last seen in early March following the initial announcement of a crypto strategic reserve.
In conclusion, this recent rally and the subsequent breakout above both the SMA50 and SMA200 have rendered a bearish signal invalid.
Source: u.today
