Cardano Reaches Milestone of 1 Million Transactions: Will ADA Price Surge Above $1?
As Cardano records a significant user engagement milestone, traders are watching closely for price movements around the $0.90 mark.
Cardano (ADA) has seen a surge in activity, processing over 1 million transactions in the past month, despite slipping to 10th in market cap.
Potential Price Movements
ADA’s price jumped nearly 10% last week, briefly reaching $0.875. As ADA approaches the $0.90 threshold, crypto analysts suggest this could spark further price increases. Ali Martinez highlighted this price point as critical; breaking it could lead to increased buying and a target of $1.10.
Similarly, AV Sebastian pointed out a W-shaped pattern in ADA’s price chart, predicting a bullish breakout soon if price crosses $0.90. The next resistance is around $0.94—a key level for potential future rallies.
Institutional Interest Grows
In another positive development, institutional interest in ADA is rising, with multiple spot ETFs under SEC review. Recently, Rex & Osprey filed for several ETFs, including one dedicated to ADA, enhancing its attractiveness to investors.
Reliance Global Group also entered the market, recently purchasing ADA for its treasury, signaling corporate interest in Cardano.
“When momentum aligns, targets of $1 and beyond could be within reach in weeks,” - AV Sebastian.
This activity showcases growing engagement and potential for ADA, inviting both retail and institutional investments.
