Cardano Surges 22.6% in Week, Eyes $1.50 Target

Cardano, a prominent cryptocurrency, is currently experiencing a surge in speculation that it may soon retest or surpass the psychological price of $1. Bulls are actively defending the $0.70 to $0.72 zone, which is a critical support level. Market analyst Lingrid noted that the price is retesting a confluence zone near $0.70–$0.72, which aligns with broken trendlines acting as support. If buyers successfully defend this zone, the bullish continuation toward the $0.85 target zone is likely to resume.

Cardano has broken out of multiple descending patterns, indicating a potential bullish continuation to the $0.85 zone. This is due to the strong defense by buyers, who are actively supporting the price. Crypto analyst Worldofcharts shared similar sentiments, acknowledging that Cardano is testing a key descending trendline. A confirmed move above this trendline could propel ADA toward $1.50 in the coming days.

At the time of this writing, Cardano was trading at $0.80, representing a 22.6% increase over the past week. This significant price movement highlights the growing interest and momentum behind the cryptocurrency.

Cardano’s trading volume has also seen a substantial increase, with over $774 million in volume on Binance alone. This surge in volume is a clear indication that ADA is attracting strong liquidity and trader interest. MEXC and Bybit follow with $646 million and $332 million in volume, respectively, further emphasizing the growing interest in Cardano.

The volume surge reflects a powerful blend of technical breakout, ecosystem revival, and macro catalysts drawing in both retail and institutional capital. As bullish on-chain metrics like skyrocketing trading volume align, it remains to be seen whether Cardano will scale heights and hit the psychological price of $1 in the short term.