Cardano’s ADA Surges 60% in a Month, Eyes $1 Milestone

Cardano’s native token, ADA, has been on a strong upward trajectory, currently trading around $0.92. This marks a significant recovery from lows near $0.55 earlier in July, with the token gaining over 60% in less than a month. As momentum builds, analysts are increasingly confident that ADA’s next major milestone, $1, is inevitable.

Respected crypto analyst Ali recently shared his outlook, declaring, “For Cardano $ADA, hitting $1 isn’t a question of if. It’s a matter of when.” This sentiment is backed by key technical developments. ADA recently broke out of a descending parallel channel that had suppressed its price action since May. It has also closed several daily candles above key resistance levels, signaling the beginning of a bullish trend reversal.

The emergence of a rounding-bottom pattern, typically a strong reversal signal, further supports the bullish case. ADA has also reclaimed the 200-day simple moving average and is now testing the crucial resistance zone between $0.85 and $0.90. A confirmed breakout above this range would likely open the path toward $1, and possibly higher.

Supporting the technical indicators is a noticeable spike in on-chain activity, especially from large investors. Analysts have noted a surge in whale transactions, with over 137 transfers exceeding $1 million in recent days. This uptick in activity signals renewed confidence among large holders, often seen as a precursor to further price appreciation.

A key macro catalyst fueling optimism is the rising probability of a spot ADA ETF approval. Market platforms currently place the odds at 84%, a development that could unlock institutional capital and significantly bolster ADA’s price action. Analysts warn that the $1 mark could prompt some short-term profit-taking, but the current structure suggests that sustained buying pressure, especially above $0.90, could invalidate any major pullbacks. If ADA can close above this key level on the daily timeframe, the path to $1 becomes even clearer.

While some analysts suggest ADA could briefly retrace to $0.47 before its next major leg up, the overwhelming consensus is that $1 is the next realistic target. More bullish projections go even further, with long-term price forecasts ranging from $1.30 to $12, depending on broader market conditions. Still, the most immediate and credible milestone remains $1. With the technical structure improving, on-chain metrics surging, and potential ETF catalysts in play, the groundwork appears to be firmly laid.

As Ali rightly said, it’s no longer a matter of “if” ADA will hit $1; it’s simply a matter of when. And with momentum building on all fronts, that “when” may arrive sooner than most expect.