Cardano Soars 10%—Is the $1 Breakout Imminent?
Cardano's ADA token just blasted past resistance with a double-digit surge—fueling speculation that the $1 psychological barrier could shatter next.
The Bull Case Builds
Network upgrades and staking demand are converging as catalysts. Meanwhile, traders eye historical patterns suggesting this rally has legs.
Skeptics Remain Unconvinced
Some Wall Street dinosaurs still dismiss crypto moves as 'irrational'—despite their own 2008 track record. Meanwhile, ADA's tech fundamentals keep strengthening.
The Bottom Line
Whether it hits $1 tomorrow or next month, Cardano's momentum is undeniable. The only question left: How fast will latecomers FOMO in?
The Cardano price (ADA) has recently displayed renewed strength, surging nearly 10% in the past 24 hours. This impressive jump was fueled by a wave of liquidations, with $2.98 million in short positions being wiped out, from a total 24-h liquidation of $3.40 million, causing the ADA price to spike significantly.
Currently trading around $0.628, this ongoing momentum has pumped great courage among traders and analysts alike, easing their fear. Now many began to believe that Cardano crypto could continue to gain traction and even climb the ranks in market capitalization.
The key factor that drove the recent cardano crypto price increase is the strong backing from institutional investors, coupled with Bitcoin’s recent surge past its June high.
If this buying momentum persists, Cardano may soon test its immediate resistance level NEAR $0.70. Experts are even speculating that it could retest the $1 mark by the end of July.
What’s Strengthening Cardano’s Fundamentals?
Cardano is currently reflecting increasing bullish pressure, with its market capitalization reaching $22.11 billion and a notable 42.43% rise in trading volume, now at $1.09 Billion. The platform’s long-term vision as a smart contract solution has increased institutions interest and that itself provides a solid foundation for its growth.
Adding to this robust foundation is the strong institutional backing that Cardano has received. It has secured the third position in the Grayscale’s Smart Contract Platform Fund, which holds nearly $3.5 million in AUM.
At the end of the day on 7/3/2025, Grayscale Smart Contract Fund’s Components were a basket of the following assets and weightings.$ether $SOL $ADA $SUI $AVAX $HBAR
Learn more: https://t.co/060r474Ohf pic.twitter.com/TehdWKDWbn
Notably, Cardano accounts for almost one-fifth of this fund, making up an impressive 18.57% of the total portfolio, trailing only behind ethereum and Solana. This allocation of ADA in this large fund sends a clear powerful message to the market. Which is signaling that Grayscale considers Cardano a significant contender in the smart contract arena.
Is ADA Price $1 Rise On Horizon?
On the technical front, the ADA price on the daily chart indicates that price action is gaining strength, suggesting that the long-trapped declining range could be breached if it maintains momentum above the $0.70 resistance level. A daily close above this mark would signify a breakout from a multi-month declining wedge.
Currently, the cardano price has surpassed the $0.60 level, supported by the swing low from April. If buying momentum persists, bolstered by strong institutional backing, there is a solid chance for a significant rise toward the $1.00 mark.
Additionally, experts point out that ADA has formed a powerful long-term signal: the Golden Cross on the weekly chart. This formation marks a historic moment for Cardano, indicating potential for further growth in the future.
