Cardano Eyes $1.20 Amid Surging Market Interest and Bullish Momentum

10.05.2025 06:00

Cardano (ADA) has recently garnered substantial market attention as its price approaches the $1.20 mark, fueled by increasing open interest and trading volumes. The cryptocurrency’s positive trajectory, observed in January 2025, is supported by investor optimism and notable participation in perpetual futures—over $90 million in open interest.

The bullish sentiment is further reinforced by historical performance patterns, with analysts highlighting the $1.20 resistance as a potential catalyst for further gains. Charles Hoskinson, Cardano’s founder, remains active in guiding discourse about ADA’s future, aligning with ongoing positive market dynamics.

Despite a strong overall trend, short-term technical analysis indicates a possible correction if ADA fails to sustain key resistance levels, with near-term pullback targets at $0.76–$0.75. However, weekly bar closure above $0.7786 could enable a renewed test of the $0.85 region.

Overall, ADA’s robust trading activity and increased open interest have boosted market confidence, signaling cautious optimism about continued upward momentum, with attention on technical thresholds and macro market factors.

Sources
Cardano’s Golden Cross Boosts ADA Market Optimism
theccpress.com 10.05.2025 18:35