Cardano ($ADA ) is experiencing notable activity and growth. Currently trading around $0.83, ADA has seen a 3.84% price increase in the past 24 hours. However, trading volumes have slightly decreased, indicating a possible brief pause in momentum. The token recently broke past a key resistance level at $0.77, suggesting further upward potential.

Key factors driving this rally include:

Increased whale activity, with large transaction volumes rising by 30%, indicating confidence from institutional and large-scale investors.
Rising open interest in futures contracts, reflecting growing optimism among traders.
A strong technical setup, with ADA forming bullish patterns that could lead to a target of $1, pending a breakout above the $0.89–$0.93 resistance zone.

ADA's growth aligns with higher network engagement, including a 42% spike in active addresses. The outlook remains positive, but resistance levels will play a critical role in determining its short-term price trajectory.