Cardano, the 10th-largest cryptocurrency by market capitalization, has surged 29% in the last seven days amid renewed bullish sentiment across the crypto market. At the time of writing, ADA was up 3.79% in the last 24 hours to $0.7398.
The recent price rally has brought ADA to a key technical level, testing the 200-day simple moving average (SMA) on the daily chart at $0.749. This level is acting as immediate resistance, and all eyes are now on whether ADA can break above it to continue its upward trajectory.
Cardano surpassed this level after a rapid increase on Friday to a high of $0.777 but then encountered resistance, causing a retreat.
If Cardano successfully breaks above this major barrier, it could open the door for a continued rally toward $0.90 or even $1.20, according to crypto analyst Ali. Such a move would mark a significant recovery for the token, which has been consolidating for several months.
Ali wrote in a recent tweet, "Cardano (ADA) is breaking through a key resistance level, opening the door for a rally to $0.90–$1.20."
Cardano founder Charles Hoskinson recently made a bold prediction that has sparked excitement across the crypto space: Trillions of dollars might soon flood the altcoin market.
In a tweet on Friday, when Bitcoin surged to an all-time high above $118,000, Cardano founder Charles Hoskinson wrote, "Remember I said the gigachad bullrun is coming. We are going to see $250,000 bitcoin and trillions enter the space for the alts. Genius and Clarity acts will be the catalyst."
Hoskinson's comments come as Cardano (ADA) gains traction in both price and development. Cardano ecosystem growth alongside governance, upcoming improvements and an expanding developer community are setting the stage for what could be a breakout phase for ADA and the broader altcoin sector.
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