Cardano (ADA) Surges 20% Weekly, Tests $0.85 Resistance

Cardano (ADA) has recently demonstrated strong bullish momentum, surpassing key resistance levels and setting new targets for traders and analysts. The cryptocurrency has broken through the $0.74 resistance mark and is now testing the $0.85 level, with bulls aiming for higher price zones. This upward movement follows a breakout from a prolonged downward trend, driven by buyers pushing the price into new territories.

The recent gains have been substantial, with ADA trading at $0.852 after a 7% increase in 24 hours and a 20% rise over the week. Earlier resistance around $0.74 had previously capped the price during multiple attempts this year, but this level has now been breached. ADA touched nearly $0.78 last week before a brief pullback, but buyers quickly stepped in, pushing the price above $0.84 heading into the weekend.

Analysts are closely monitoring the $0.85 level for confirmation of a sustained upward trend. Crypto analyst Ali Martinez suggested that a daily close above $0.85 could pave the way for ADA to reach $1.31. This view is based on the earlier market structure and current momentum, with ADA having cleared the $0.68 mark, which may now serve as support if prices remain above it.

Another analyst, Marcus Corvinus, noted that ADA has exited a long-term descending channel and flagged the $0.77 to $0.82 range as the next zone to watch. He added that holding above $0.82 could shift attention to $1.18. On the downside, $0.68 and $0.58 are the nearest support zones in case of any pullback.

The recent gains in Cardano are supported by rising interest in its futures market. Open Interest (OI) on ADA has grown by 16% in the last 24 hours, reaching $1.65 billion, surpassing the previous record high of $1.50 billion. Open Interest reflects capital tied to active trading positions, and a steady rise often means traders are committing more capital, which can support ongoing moves. This increase adds weight to the recent price trend.

With ADA reclaiming the $0.80 range and testing $0.85, traders are focused on whether it can close the day above that level. A successful close above $0.85 could confirm the bullish momentum and set the stage for further gains, potentially reaching the next key resistance at $1.31. This optimistic outlook is backed by the rising Open Interest and the bullish sentiment among traders and analysts.

ADA is holding above short-term support at $0.828 and $0.800. The 50% Fibonacci level around $0.788 may offer further backing if a pullback happens before a clear breakout. The bullish setup is also supported by technical indicators. MACD and the RSI show high momentum with MACD on positive territory and RSI above 50. If ADA closes above $0.85, traders may turn their attention toward the $1.31 resistance level next.