Why is Cardano Price Going up Today

Why is Cardano Price Surging Past $1 Today?

Cardano price surged above the $1 mark for the first time in five months, climbing over 20% in just 24 hours. 

The asset is currently at its highest price point since March 2025, as strong buying pressure and a confirmed breakout of a long-term descending channel have been seen.

It has been in an upward trend since June and is currently experiencing increased confidence among the investors.

Cardano Breaks Out of Long-Term Channel With Bullish Momentum

The altcoin price broke out of a descending parallel channel that lasted more than 250 days, which is a confirmation of a bullish shift in market structure.

The breakout was in the form of a triple bottom, which occurred after a series of support bounces, which indicated powerful bullish interest.

ADA hovered slightly higher than the $1.01 mark before retreating to a 16% gain at $0.9983 in 24 hours.

This rally has put the bulls in control and has had ADA break above resistance levels that had capped gains to below $0.95.

Crypto analyst Javon Marks is expecting that Cardano price will hit $1.20, given the history of such breakout structures in the past. According to him, this action might be a component of a bigger rally to $2.90 level, a surge of more than 200%.

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Other analysts, such as Nickvaldez, observed that a golden cross pattern was made recently, an indicator that in the past had caused a 236% increase in ADA price.

He estimates that a repeat of this trend will see the price go to approximately $2.90 in the next 27 days.

One of the main key zones is between $1.17 and $1.18 because the long-term trendline coincides with this technical area, and could act as the next resistance point.

Provided that altcoin does not lose strength above $1, additional growth to $1.24 and $1.43 can be observed in the short term.

Market Performance and Comparisons Support a Strong Rally

Other altcoins, such as Dogecoin, also did well over the last 24 hours but were outperformed by Cardano, which saw an increase of over 15% compared to the 5% of DOGE.

ADA trading volume also grew by 88.26% over the last 24 hours, an indication of a high level of retail and institutional investment activity.

Compare Cardano Performance | Source : Google

Moreover, the market cap of ADA rose to $35.55 billion, whereas the fully diluted valuation increased to $44.88 billion. The rise indicates growing trust in the long-term value offering of the token.

Social sentiment has been another factor in Cardano's price increase, especially after analysts and influencers mentions. The statistics demonstrate that almost 15 billion ADA are held by investors for more than a year, indicating the growing holder conviction.

Ecosystem Developments and Institutional Attention Accelerate Gains

The recent rise is also attributed to the development of the ecosystem and positive regulatory mood.

The Glacier Airdrop has boosted the number of users without introducing inflation pressure, and the Midnight protocol is attracting more attention due to its privacy functions.

The chief technical officer of the Midnight Foundation recently showed new post-quantum cryptographic proof systems at Google HQ, which gives more credibility to the technology of Cardano.

The innovations are designed to increase privacy and security on the Layer-1 level, and make ADA more attractive to enterprise users.

Speculation that a Cardano spot ETF could be approved in 2025 has intensified, and now the likelihood of approval stands at 85%.

With Cardano remaining unique in its features of scalable staking, low transaction costs, and high network traffic, the market seems to be gaining confidence. 

Therefore, with the current pace, the price is targeting a possible breakout to $2.30 and above in the current cycle.