Cardano (ADA) Price Surges 17% with Trading Volume Exceeding $4.12 Billion
Cardano's native cryptocurrency ADA has increased by 17% in the last 24 hours, approaching the key resistance level of $1.0. Daily trading volumes have surged by 88%, exceeding $4.12 billion, indicating strong bullish sentiment. Long-term holders are maintaining positions amid ETF speculations.
Price Movement and Predictions
- ADA is testing resistance at $1.0; breaking this could trigger a potential 100% rally.
- Next target after $1.0 is $1.20, with analysts predicting a larger target of $2.90, representing a 200% increase from current levels.
- Analyst Clifton FX noted an upside breakout from a bullish flag pattern, suggesting a potential rally of 100% to 150% in coming weeks.
Spot Cardano ETF Developments
- Grayscale Investments registered the “Grayscale Cardano Trust ETF,” signaling movement toward a spot Cardano ETF launch.
- The SEC is currently reviewing NYSE Arca’s filing for a spot Cardano ETF, with an 80% chance of approval by year-end.
- Long-term holders continue to accumulate ADA since 2021, showing confidence in its growth despite market fluctuations.
ADA Long-term Holders | Source: Alphractel
Maxi DOGE Fundraising Success
- Amid the Cardano rally, maxi DOGE has raised nearly $1 million within a month of launch.
- This dog-themed memecoin offers staking rewards and exclusive access to trading groups.
- Current token price is $0.000252 with $888,670 raised so far.