Cardano (ADA) continues to hold its position at $0.89 and demonstrates support in the range of $0.74 to $0.98. The ADA market looks optimistic against the backdrop of growing activity in the ecosystem.
Current Market Situation of ADA
ADA is trading at $0.89, maintaining critical levels on USD and BTC charts. Analysts suggest that this structure could signal the beginning of a new upward cycle. If the momentum continues, ADA may attempt to reclaim the $1.00 value, which is historically considered a key level.
Prospects Against Bitcoin and Ethereum
The ADA/BTC chart shows a trend reversal after bouncing from 0.00000780 BTC, with the next resistance at 0.00001536 BTC. This indicates that Cardano is beginning to regain strength relative to Bitcoin. The ADA/ETH pair also shows growth potential from the current mark of 0.0002016 ETH to 0.0009227 ETH, suggesting a possible increase of 350%.
Growth of Cardano Ecosystem Activity
Long positions outperform shorts as ADA continues to strengthen. With a recent long entry of $4.45 million at $0.7475, traders are already seeing a 15.92% unrealized gain. Meanwhile, shorts are showing losses. Growth support is also secured by seasonality, as Q4 traditionally brings strong achievements for ADA. Ecosystem activity is increasing, with Snekdotfun surpassing 69 million ADA in trading volume.
The prospects for Cardano appear promising against the backdrop of increasing market activity. The support at $0.74 and strategic position against Bitcoin and Ethereum provide a foundation for possible growth of ADA.
