The Cardano price has surged 15% in the past 24 hours and 24% over the past week, reaching $0.7185 with a market capitalization of $25.4 billion. This rally coincides with Bitcoin hitting $118,000 all-time highs and features a 50.12% spike in ADA trading volume to $1.7 billion.
Technically, ADA confirmed a historic weekly golden cross as the 50-week moving average crossed above the 200-week MA – a macro bullish signal last seen during previous bull cycles. Simultaneously, ADA broke out of a multi-week descending channel and is now trading within a rising wedge pattern. The breakout was supported by a bounce from the critical Fibonacci retracement zone ($0.618-$0.786), which previously served as a demand area around $0.56-$0.60.
Analysts highlight three key price targets: $0.9989 (short-term), $1.2164 (medium-term), and $1.3795. Sustained momentum above $0.65-$0.70 support could propel ADA toward the psychological $1.00 barrier. Long-term $100 predictions hinge on potential ETF listings and enterprise adoption following Cardano's inclusion on former President Trump's strategic reserve list.
Fundamentally, Cardano launched Reeve – an open-source ERP integration tool enabling businesses to automate financial compliance on-chain. This enterprise-focused development aims to expand real-world utility and DeFi/corporate adoption.