Cardano ADA Surges Toward $1.98: Breakout Momentum Builds Amid Rising Institutional Interest
Cardano (ADA) is showing strong bullish momentum, with its price surging 3.71% to $0.8874 and trading volume spiking 66.52% to $2.62 billion. Analysts highlight $0.8785 as a critical breakout level, with a sustained breach potentially propelling ADA toward the $1.98 resistance zone. This rally reflects growing institutional and retail interest, marking a 20.81% weekly gain. However, failure to hold this level could see ADA testing lower supports at $0.82 or $0.75.
Cardano Breakout Alert: ADA Targets $1.98 Amid Surging Volume
Cardano (ADA) has surged 3.71% to $0.8874, accompanied by a 66.52% spike in trading volume to $2.62 billion. The rally reflects growing institutional and retail interest, with a 20.81% gain over the past week.
Analyst Sonia S. identifies $0.8785 as a critical breakout level. A sustained breach could propel ADA toward $1.98—a key 2024 resistance zone. Failure to hold may test support at $0.82 or $0.75.
Diverging forecasts emerge for 2025. DigitalCoinPrice projects a $1.95 target, with potential to challenge ADA's $3.10 all-time high under favorable conditions. The breakout from a falling wedge pattern signals bullish momentum, though technicals suggest near-term volatility.
Cardano Founder Charles Hoskinson Confirms Mid-August Timeline for ADA Holdings Audit
Cardano founder Charles Hoskinson has announced that an independent audit of ADA token holdings by Input Output Global (IOG) will be published by mid-August. The audit, which covers IOG's ADA reserves since 2021, aims to address longstanding community questions about transparency.
Hoskinson revealed on X that the draft report requires additional contextual details before public release. "We are on schedule for a mid-August release, assuming the work continues at this pace," he stated. The final version will be livestreamed and hosted on a dedicated platform for community review.
This MOVE coincides with preparations for a defamation lawsuit against parties who previously accused IOG of ADA mismanagement. Chief Legal Officer Joel Telpner confirmed the organization's commitment to resolving these allegations through both legal channels and financial transparency.
Cardano (ADA) Price Surges, Bullish Setup Targets $1.20 Soon
Cardano's ADA token is riding a wave of bullish momentum, with prices climbing 1.63% in 24 hours and 16.49% over the past week. The altcoin now trades at $0.8699, supported by firm key levels between $0.77 and $0.82. Market capitalization stands at $30.79 billion, reinforcing ADA's position among top cryptocurrencies.
Technical charts reveal a clear upward trajectory, with ADA rebounding from below $0.75 to surpass $0.85. The token briefly approached $0.90 before encountering resistance, then found solid support at $0.83. Current sideways movement suggests accumulation phase before next potential breakout.
Fundamentals strengthen as Apple ecosystem integration improves long-term adoption prospects. Trading volume dipped 41.86% to $1.55 billion, but market participants remain optimistic about ADA's trajectory toward the $1.20 target.
Cardano Price Prediction: ADA Reclaims EMAs as Breakout Toward $2 Gains Momentum
Cardano's ADA is signaling a potential trend reversal after reclaiming all key exponential moving averages (EMA50, EMA100, and EMA200) on the weekly chart. This rare alignment often precedes significant bullish momentum, with the cryptocurrency now testing a multi-year descending trendline that has capped prices since late 2021.
A breakout above the $0.85 resistance level could confirm a long-term trend reversal, according to technical analysis shared by Leader Alpha. The tightening triangle formation suggests an imminent resolution, with ADA's structure showing consistent higher lows on lower timeframes—a hallmark of healthy accumulation.
TheDAppAnalyst's chart analysis reinforces this outlook, demonstrating clean bullish momentum across intraday frames. Market participants are watching for a weekly close above the multi-year trendline, which WOULD open the path toward the psychologically important $2 level.