Cardano (ADA) has recently shown strong signs of a recovery, giving traders new hope for a rally towards the $1 mark. The price has climbed above $0.70 for the first time since March and is currently facing key resistance levels that could decide the next move.
Cardano Price Strong Recovery Hints at Rally
According to crypto analyst Ali Charts, the Cardano price is approaching a major test at $0.74. A breakout above this level could open the way for a move toward $0.88 for ADA price. Over the past seven days, Cardano has gained more than 12%, showing increased investor interest.
Trading volume has risen by 33% in the past 24 hours, reaching $723 million. This higher volume signals that buyers are becoming more active as Cardano attempts to overcome resistance barriers between $0.7150 and $0.7200. If the Cardano price fails to break above these levels, it could drop back to $0.6800.
The ADA price is currently trading around $0.7088, showing a daily gain of 2.04%. It continues to recover from the recent low of $0.6500. However, some technical indicators suggest that the upward momentum could be weakening as ADA price nears critical resistance points.
Whale Activity and ETF Speculation
Large Cardano holders, often referred to as whales, have been increasing their ADA holdings. Data from Santiment shows that wallets holding between 10 million and 100 million ADA now control 35.5% of the total supply. This figure has risen from 33% in January, indicating sustained accumulation boosted by the recent reveal of backing for the Ripple coin XRP.
Wallets with between 1 million and 10 million ADA have also grown to account for 15.83% of the supply. Analysts view whale accumulation as a positive sign, as it often suggests that large investors expect future gains.
In addition, speculation about a potential spot ADA ETF is gaining momentum. Following the appointment of Paul Atkins as the new chair of the Securities and Exchange Commission (SEC), expectations for ETF approvals have increased. Moreover, Polymarket data shows the probability of an ADA ETF being approved this year jumped to 51%.
Golden Cross Formation and Bullish Momentum
As per the recent technical analysis, a Golden Cross on the 4-hour chart has emerged, strengthening the Cardano’s price’s bullish outlook. Subsequent to this crossover, the price rose sharply and then trading above the 50 period SMA which has since become the support. Another positive sign was marked by higher highs and higher lows in the price action.
The Money Flow Index (MFI) at the moment is 55.33, which is more neutral to slightly bullish at the moment. The MFI is not overstretched towards the buy signal and not oversold, meaning there is potential for rising ADA prices if the undertone remains bullish.
On a larger timeframe, Cardano price is within the falling channel formed in the first half of 2025. The price has reversed from the channel bottom and is currently moving towards the midway and the upper edge of the channel.
An upward breakout above the upper Bollinger Band about $0.77 to $0.78, in accordance with Ali Charts, could open the way for further upward trends towards $0.88 possible. Therefore, if Cardano price clears this region, it will endorse the bullish signal highlighted earlier by the Golden Cross formation.
According to the charts, resistance is around $0.70 to $0.72, with further support at the lower border of the channel at $0.55 to $0.57. If the resistance levels remain intact, Cardano could revisit the lower support level before attempting another breakout.
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