Cardano's ADA surges 6% to challenge 60-cent resistance

Cardano’s native token, ADA, is making a strong push to close above 60 cents for the first time since mid-June. This rebound from the 56.5-cent floor has propelled the price back over the 100-hour simple moving average and broken a short-term down-trend line that had been in place since the month’s $0.6107 swing high. The market is now focused on whether this rally can gain the final four cents needed to confirm a trend reversal.

Intraday charts show ADA reclaiming the 50 percent Fibonacci level of the June 28 to July 5 decline and stalling near $0.5925, the 61.8 percent retracement. The hourly MACD has crossed into positive territory while the RSI hovers just above the neutral fifty mark, suggesting room for an extension if buy-side volume persists. The immediate hurdle sits at $0.600–0.602; a daily close above $0.620 would invalidate the prior lower-high structure and expose $0.650 next.

On-chain analytics firm flagged an accumulation of roughly 120 million ADA by large holders between June 9 and June 11, a pattern mirrored later in the month when another 80 million tokens moved into whale wallets. Such clustered buys historically precede multi-week advances and help explain why support at 54–56 cents has held despite wider alt-market softness. Crypto analyst notes that “whales are front-running the breakout” and points to a visible uptick in dormant coin activity, an indicator that long-term holders are starting to reposition ahead of a potential move beyond 65 cents.

The Cardano bulls community is simultaneously weighing a treasury proposal that would convert up to 140 million ADA into Bitcoin and native stablecoins to bootstrap decentralized finance liquidity. Proponents argue that diversifying idle treasury assets could increase total value locked and broaden yield opportunities, while critics fear near-term selling pressure. The dispute highlights Cardano’s ongoing push to seed a self-sustaining DeFi layer that could ultimately support higher network fees and token demand.

Key chart levels traders are watching include a support cluster at 0.5850 initial, followed by 0.5650 and 0.5450 if momentum stalls. The resistance band is at 0.5925 minor, 0.600 psychological, 0.620 breakout trigger. Technical indicators show the hourly MACD trending up, RSI above fifty, and the 100-hour SMA now below price, classic components of an early trend shift.

Cardano bulls' latest bounce combines improving short-term momentum, renewed whale accumulation, and a governance narrative that promises deeper liquidity for the ecosystem. A candle close above 60 cents followed by confirmation at 62 cents would flip the mid-term structure bullish and put 65–67 cents on the radar for July. Until that breakout arrives, traders are likely to treat the current up-move as a range play, using 56-cent dips for accumulation and 60-cent pushes for measured profit-taking.