Cardano’s ADA Surges 30% as XLM and HBAR Rally

ADA holders experienced a 30% price surge last week, but this gain pales in comparison to the significant increases seen by XLM, ALGO, and HBAR. Despite this, Cardano’s founder, Charles Hoskinson, publicly congratulated the XLM and HBAR communities for their strong price performance during this period.

Cardano’s ADA token has recently broken above its 50-day moving average, marking a significant move after weeks of sideways trading. This breakout is particularly notable as it has cleared the short-term resistance zone near $0.74. The next key resistance level for ADA is around $0.85, an area that previously rejected price movements in May, forming a mini double top. If bulls can push ADA above $0.85, the path to $1.00 and beyond could be relatively clear, with minimal resistance standing in the way.

The Relative Strength Index (RSI) for ADA is also pointing upward, sitting well above 70. This indicates strong bullish momentum but may also suggest overbought conditions in the very short term. Analyst Sssebi posted on X, stating that once ADA breaks the resistance area at $0.85, it could lead to a significant rally toward $1.00 and beyond. This $0.85 level is seen as a crucial pivot point, and a clean breakout above it could result in explosive upside for ADA.

While ADA builds momentum, Hoskinson showed appreciation for the achievements of the XLM and HBAR communities. He congratulated the teams and communities behind Stellar and Hedera for their resilience and long-term vision, praising their ability to weather storms and continue building. Both XLM and HBAR have seen substantial gains this month, with XLM rallying 93% in just seven days and HBAR surging 55%. These gains were fueled by smart contract upgrades, PayPal integration, and increased enterprise adoption. Hoskinson’s acknowledgment highlights Cardano’s commitment to the broader Web3 movement and its focus on meaningful goals rather than short-term hype.

Looking ahead, Cardano’s setup appears strong. If bulls can break through the $0.85 resistance level in the coming days, the path to $1.00 or even $1.20 becomes more feasible. However, it is important to monitor volume and RSI. If ADA consolidates below $0.85 for an extended period without momentum, a brief cooldown could occur. Nevertheless, given the heating up of the broader altcoin market and Hoskinson’s positive influence, ADA could be poised for its next significant upward move.