Cardano has caught market attention after breaching the key resistance level of $0.74. This breakout is expected to pave the way for a potential reach towards $0.85.
Cardano Network Activity
The interest in Cardano is bolstered by the increase in network activity. According to Santiment data, active ADA addresses have climbed to 38.5k, marking the highest level in the last 10 days. This surge follows the launch of the Cardano Card and the 9.4% rise in the altcoin season index, indicating a renewed user engagement.
Cardano Price Analysis
As of the publication, ADA is trading at $0.7434, reflecting a 2.17% daily increase. The market capitalization stands at $26.31 billion, while the 24-hour trading volume has decreased by 20.12% to $1.34 billion. Technical analysis indicates that the price is consolidating just above the Bollinger Band midline, with resistance around $0.7607 and support between $0.68–$0.70. The RSI is at 58.59, indicating potential for further upside.
Frequently Asked Questions
****Is ADA bullish above $0.74?**** Yes, breaking the $0.74 resistance is a strong bullish signal, suggesting the potential to target $0.85 in the near term.
****What is Cardano price today?**** At the time of publication, Cardano is trading at $0.7434, with an intraday gain of 2.17%.
****What levels should traders watch now?**** Immediate support lies at $0.68–$0.70. A breakout above $0.75 could accelerate gains toward the $0.85 target.
Overall, Cardano demonstrates potential for further growth due to increasing network activity and positive technical signals.
