ADA Approaches Key Psychological $1 Level After Bullish Breakout
Cardano (ADA) has delivered a powerful upward surge, climbing nearly 10% in the past 24 hours and approaching the critical $1 psychological barrier. At the time of writing, ADA/USDT is trading around $0.9939, up an impressive 197% from recent lows, supported by 386 million in trading volume.
The daily chart highlights a decisive breakout from a descending channel formed earlier this year. Following a retest of the $0.65–$0.70 green demand zone, price accelerated upward, confirming a shift in market structure from consolidation to trend continuation. This move has placed ADA within striking distance of the red resistance zone near $1.20, a level not seen in months.
According to BITX , “The momentum here is clear — ADA broke a multi-week downtrend, retested support successfully, and is now in a strong impulsive leg. As long as it holds above $0.90, we could see $1.20 tested in the short term.”
Volume activity is another bullish signal. Sustained high buying volume during the breakout suggests institutional interest and long-term accumulation. The breakout also coincides with a broader market uptrend in major altcoins, further strengthening ADA’s case for continued gains.
Key technical zones to monitor include support at $0.90 and $0.70. A strong close above $1.00 would likely open the path toward $1.20 and potentially $1.50, given the absence of major resistance levels in between.
With momentum, volume, and trend alignment all favoring the bulls, Cardano’s breakout may mark the beginning of a sustained rally — provided it can convert $1 into a solid support level.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.