- Cardano (ADA) is gaining bullish momentum, climbing above $0.70 after forming a Golden Cross, with whales heavily accumulating.
- Speculation around a potential ADA ETF and rising trading volumes could drive Cardano’s price toward $0.88 and possibly $1.
Cardano (ADA) is making waves again, flashing strong bullish signals as its price recovers above $0.70 and a highly anticipated Golden Cross pattern forms. Traders and investors are now watching closely, as the next major target of $0.88 — and potentially $1 — comes into focus.
After weeks of sideways movement, ADA has surged over 12% in the past week, currently trading near $0.7088 with a 2% daily gain. Trading volume has jumped by 33% in the last 24 hours to $723 million, signaling renewed buying interest. According to crypto analyst Ali Charts, a breakout above the $0.74 resistance could pave the way for a strong move towards $0.88.
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Behind the scenes, whale activity is reinforcing bullish sentiment. Data from Santiment reveals that wallets holding between 10 million and 100 million ADA now control 35.5% of the total supply, up from 33% earlier this year. This steady accumulation suggests that major players are positioning themselves for significant future gains.
Adding fuel to the fire is growing speculation around a potential ADA spot ETF. Following recent leadership changes at the SEC, Polymarket data shows the odds of an ADA ETF approval in 2025 have surged to 51%, injecting even more optimism into the market.
Technically, the formation of a Golden Cross — where the 50-period moving average crosses above the 200-period moving average on the 4-hour chart — signals a strong shift toward bullish momentum. ADA is also forming higher highs and higher lows, another classic indicator of an emerging uptrend.
However, resistance between $0.7150 and $0.7200 remains a critical hurdle. Failure to break through could see Cardano retrace to $0.6800 or lower. Yet, if ADA clears the $0.77-$0.78 zone, analysts believe a run towards $0.88 — and even a shot at $1 — could be on the horizon.
With whale accumulation rising, trading volumes spiking, and ETF buzz building, Cardano could be gearing up for one of its most exciting moves of the year.
