Cardano Price Today: $0.98
Cardano (ADA) surged 24% to $0.98 on Friday, driven by strong network activity, investor optimism, and bullish futures trends. Key metrics suggest further growth potential despite short-term profit-taking.
Key Highlights:
- Weekly active addresses surpassed 350K—highest since June 2023.
- Investors hold 75% average profits, yet on-chain data indicates room for upward momentum.
- Futures open interest hit a 3-year peak at $725.83 million.
- ADA eyes a 30% rally to $1.26 after breaking a critical resistance level.
Bullish On-Chain Metrics
1. Network Activity
Cardano’s weekly active addresses remain elevated since early November, reflecting sustained user engagement. This growth isn’t just whale-driven—organic adoption is fueling demand.
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2. Investor Profitability
The MVRV ratio (75%) signals most holders are in profit—a level last seen during the 2021 bull run. While some may cash out, unrealized gains suggest long-term confidence.
3. Futures Market Momentum
Rising open interest (+$725.83M) alongside price gains confirms strong derivative market participation. Spot volumes also show increased buying pressure.
Price Prediction: Can ADA Reach $1.26?
Technical Outlook
- Breakthrough: ADA smashed $0.908 resistance** (April 2022), targeting **$1.263.
- RSI caution: The 80 RSI hints at overbought conditions, but the Awesome Oscillator supports bullish momentum.
- Risk level: A drop below $0.683 would invalidate the bullish trend.
FAQ: Cardano’s ADA Surge
Q1: Why is ADA rising suddenly?
A: Combination of high network usage, futures market interest, and breakout from a multi-year resistance level.
Q2: Should I buy ADA now?
A: While metrics are bullish, RSI suggests potential short-term volatility. Dollar-cost averaging may mitigate risk.
Q3: What’s the long-term outlook for Cardano?
A: Sustained active addresses and developer activity (e.g., Hydra upgrades) could drive further adoption.
Final Thoughts
Cardano’s rally reflects both speculative and fundamental strength. Watch for:
- Holders’ profit-taking behavior.
- Futures market stability.
- Key resistance levels ($1.26) and support ($0.683).
👉 Learn more about trading ADA strategically
Disclaimer: This content is for informational purposes only. Always conduct independent research before investing.