Usman Salis
Cardano just delivered what traders have been hoping for. After weeks of sideways action, ADA exploded 5% higher in 24 hours, climbing from $0.875 to hit $0.916. This isn't just another pump - the numbers tell a compelling story.
The Numbers That Matter
Trading volume jumped 61% to $2.08 billion while the token broke through key resistance levels. As Pete | Beware of Scammers pointed out, this surge shows renewed confidence returning to ADA after a frustrating period of consolidation.
- Current Price: $0.9162 (+5.06% in 24h)
- Market Cap: $32.79B (+5.06%)
- Trading Volume: $2.08B (+61.59%)
- Supply: 35.79B ADA circulating (45B total supply)
- Volume-to-Market Cap Ratio: 6.34%
That volume spike is the real story here. When price moves up on heavy volume, it typically signals genuine buying interest rather than just short-term speculation. The 6.34% volume-to-market cap ratio shows healthy liquidity flowing into ADA.
What's Next for ADA Price
The technicals are looking solid. ADA is now trading comfortably above the $0.90 psychological support zone, which had been acting as resistance earlier. The next hurdles are clear: $0.95 and $0.96 resistance levels stand between ADA and that coveted $1 mark. If momentum continues, breaking through these levels could trigger another wave of buying as retail investors chase the breakout.
But there's always a flip side. If ADA slips back below $0.875, it could signal the rally was just a head fake. In that scenario, $0.85 becomes the next support level to watch.
Usman Salis
