Cardano ADA Surges Amid Altcoin Rally: Bullish Reversal Toward $0.70 in Sight
Cardano's native token ADA has experienced a significant surge, rising more than 6% in the past 24 hours as trading volume spiked overnight. This upward movement is part of a broader cryptocurrency rally, with ADA peaking at $0.611 during early European trading hours. The asset found strong support at $0.50, driven by high-volume buying activity. While technical analysts are pointing to a potential bullish reversal that could push ADA toward $0.70, on-chain data reveals some concerning trends, including outflows and a decline in active addresses. Market sentiment remains divided as investors weigh these conflicting signals in the current crypto market upswing.
Cardano’s ADA Rises as Altcoin Trading Volume Surges Amid Broader Rally
Cardano's native token ADA surged more than 6% in 24 hours as trading volume spiked overnight, riding the wave of a broader cryptocurrency rally. Market sentiment remains split—technical analysts flag a potential bullish reversal toward $0.70, while on-chain data reveals concerning outflows and dwindling active addresses.
The asset peaked at $0.611 during early European hours, supported by high-volume buying at $0.590. Later resistance at $0.609 coincided with 81.6M in volume, signaling profit-taking. Political uncertainty looms as Trump’s tariff stance injects volatility into risk assets.
July’s macroeconomic developments now hold the key—whether this marks ADA’s recovery or a dead-cat bounce hinges on both technical structure and institutional flows. The 14:50 UTC selloff on July 3 underscores the fragility beneath the surface rally.
Cardano (ADA) Price Surges to 5-Month High Amid Trading Volume Spike
Cardano's native token ADA rallied more than 6% in 24 hours, peaking at $0.611—a five-month high—while the broader crypto market stagnated. Trading volume surged to 81.6 million ADA during profit-taking phases, with strong support forming at $0.590. The token now faces resistance at $0.609, a critical level for bulls targeting $0.71.
Market dynamics reveal 2.34 billion additional ADA tokens entered profitable territory this week, potentially fueling further upside. Technical charts show ADA testing a falling channel pattern, with a decisive breakout needed to sustain momentum.
Cardano's $10 Price Target Gains Traction as AI Model Outlines Profit-Taking Strategy
Dan Gambardello, founder of Crypto Capital Venture and a staunch Cardano advocate, tested an AI prototype that projected ADA could reach $10—a 1,605% surge from its current $0.5864 price. The model proposed a phased exit strategy: liquidating 20% holdings at $1.50, $3.00, and $8.00, with a final 15% sell-off at the $10 target.
The revised forecast marks a significant jump from Zero's previous $8 prediction. Gambardello speculates the model incorporates risk assessments or historical bull-cycle patterns, though the AI's rationale remains partially undisclosed. Cardano's permabull community now watches whether macroeconomic conditions and network upgrades could fuel this ambitious trajectory.
Cardano's Waning Momentum Amid Mixed Market Signals
Cardano's ADA token continues to shed value, dropping 3.6% to $0.5776 despite favorable supply dynamics. The altcoin has formed consecutive lower highs, painting a concerning technical picture for bulls. Trading volume cratered 38% to $1.3 billion while open interest fell 8%, suggesting eroding trader conviction.
Derivatives data reveals a curious dichotomy - long positions dominate but face relentless liquidations, with $2.12 million flushed from the market in 24 hours. Network activity mirrors this uncertainty, with active addresses collapsing from March peaks to just 21,500 currently. The blockchain's utility spikes appear increasingly ephemeral as user engagement wanes.
