Cardano (ADA) has surged 25.5% over the past week and 42% from its year-to-date low, reaching $0.74 amid a confirmed double-bottom pattern signaling potential recovery above $1. This rally coincides with Emurgo's launch of the Cardano Card—a multi-functional tool enabling ADA staking, yield generation from DeFi/real-world assets, collateralized loans, and treasury contributions.
On-chain metrics show robust growth: Total Value Locked (TVL) skyrocketed 93% in 7 days to $438 million, while funding rates flipped positive (0.012%), indicating trader optimism. Technically, ADA faces a crucial $0.76 resistance; a breakout could trigger a 35% rally toward $1.03, supported by a looming golden cross (20-day/50-day SMA). Analysts project long-term targets of $3-$5 if bullish momentum holds.