ADA Soars 11% as Cardano Hits $1 Billion in Daily Trade Volume

Cardano's ADA experienced a significant rally, with its daily trading volume surpassing $1 billion—a 72% rise—and the price increasing by 11%, according to CoinMarketCap data. The surge comes amid a broader crypto market rebound, as major players like Bitcoin continue to set bullish trends. Technical analysis highlights that ADA has broken key resistance thresholds, including the 50-day SMA at $0.688, hinting at a possible retest of resistance levels around $0.8 to $0.9. Analysts believe that if ADA manages to push above the next major barrier at $0.757, it could swiftly move towards $1, although a fall below important support levels, such as $0.58, might trigger a reversal. Overall, heightened trading activity and renewed investor confidence suggest that ADA's momentum may persist if current trends continue in both short-term and potential longer-term scenarios.