Is Cardano (ADA) Ready to Hit $1? Key Signals to Watch

 Cardano (ADA), the ninth-largest cryptocurrency by market cap, has been trading between $0.70 and $0.80 for several weeks. Although it briefly surged to $1.14 on March 3rd, the price quickly fell back, and average trading volumes have stayed below $1 billion. This range-bound behavior reflects cautious market sentiment and a drop in retail trading activity. As a result, many are revisiting their Cardano price prediction, looking for signs of a breakout.

What Could Push ADA to $1?



Several developments suggest a possible bullish turnaround for ADA. One of the most notable is the steady rise in open interest. According to CoinGlass, open interest in Cardano futures has increased by 1.98%, with $940 million now committed — equal to roughly 1.25 billion ADA tokens. Binance and Bitget hold a combined 41% of this open interest, indicating strong market participation on major exchanges.



Another positive sign is the growing accumulation by whales. Data from Santiment shows that wallets holding between 10 million and 100 million ADA tokens have added 220 million ADA, marking a 36.16% increase. Historically, such activity has often signaled an upcoming price rally.

Also Read: Internet Computer Price Prediction 2025, 2026 – 2030

ETF Optimism and Price Outlook



The potential approval of an ADA exchange-traded fund (ETF) is also drawing attention. Polymarket data puts the likelihood of approval at 71%. If approved, it could attract significant institutional investment, potentially driving up ADA’s price.

Here’s what experts are predicting:

  • Bullish scenario: ADA could rise to an average of $1.11, possibly hitting $1.25 by September.

  • Moderate outlook: Prices may reach $0.90, or average around $0.831.

With rising open interest, whale accumulation, and ETF optimism, Cardano may be preparing for a strong move. A push past $1 seems increasingly within reach.

Comments

Post a Comment

Popular posts from this blog

Can Ethereum Price Hit New Highs Post-Election?

Image
With the U.S. presidential election just days away, the cryptocurrency market is abuzz. Former President Donald Trump has shown strong support for digital assets, aiming to make the U.S. a crypto leader. Meanwhile, Vice President Kamala Harris favors a regulatory framework, a stance that could create policy friction in the crypto space if she wins. This political backdrop has investors wondering about the ETH price prediction and how Ethereum might perform in the face of potential policy shifts. Here’s a closer look at how these developments, alongside global events, are impacting Ethereum and other major cryptocurrencies. BTC and ETH on the Rise Amid Election-Driven Optimism Bitcoin saw a significant jump, rising over 5% in just one day, fueled by positive market sentiment ahead of Election Day. Ethereum (ETH) followed suit, climbing above $2,600 with a similar 5% increase over the past 24 hours. The Iran-Israel conflict has further encouraged investors to seek global assets, adding ...
Read more

Fantom Crypto Surges 60%: Will It Reach $2 in 2025?

Image
Fantom (FTM) has recently caught the attention of crypto enthusiasts, with a notable rally pushing its price higher. As of now, Fantom Coin is priced at $1.02, with a trading volume of over $646 million in the past 24 hours. This surge follows a 43% gain in the previous week, with an additional 8% rise as of Thursday. These gains have made Fantom one of the top-performing assets in the market, sparking optimism about its future potential. Breaking Key Resistance Levels One of the significant milestones for Fantom Crypto has been its ability to break through the $1.07 resistance level. This move was driven by increased investor interest and higher market participation, indicating that the upward momentum is likely to continue in the near term. Read our detailed Fantom Price Prediction 2024 for more deep insights Technical Indicators Signal Strong Momentum Looking at the technical indicators, the Relative Strength Index (RSI) on the daily chart currently stands at 70.93, suggesting that...
Read more

Ethereum Jumps 8% in 24 Hours – Is $6,000 Next?

Image
After weeks below $2,500, Ethereum has made a strong comeback, currently trading around $2,950—a 6% rise in the last 24 hours and a 14% gain over the week. This marks ETH's highest level in over a month and sparks a pressing question: could Ethereum price hit $6,000? Let’s dive into the recent price action, top analysts’ forecasts, and key factors shaping Ethereum's future. Key Ethereum Price Trends Current Price Surge : Ether’s recent surge, with a 6% increase in a single day, has lifted the weekly gains to 14% as per Coinpedia Markets . This marks a significant recovery after struggling to maintain positive momentum below $2,500. Multi-Week High : The latest gains have pushed Ethereum to its highest level in over 30 days, indicating renewed bullish sentiment and interest from investors. Analyst Predictions: A Bullish Outlook Prominent analysts on social media have shared their predictions for Ethereum, with optimistic outlooks for the short and long term: Michael van de Popp...
Read more