Cardano (ADA) is trading above the key $1 level, generating great optimism among investors as they anticipate continued bullish momentum in the coming weeks. After a strong recent rally, the recent minor correction appears to be just a temporary pause in a sustained uptrend.

On-chain data reinforces this view, showing that strong network activity is adding confidence in ADA’s bullish outlook.

According to data from IntoTheBlock, the Cardano network has recorded over 840,000 transactions, with a total fee of 279,000 ADA. These numbers highlight the increase in usage and demand for the Cardano blockchain, improving its fundamental strength. Increased network activity is often accompanied by price increases, suggesting that ADA could soon maintain its upward momentum.

As ADA consolidates above $1, the market will be closely watching to see if it can sustain this level and move higher. Investors and analysts are bullish, citing increased network adoption and strong trading metrics as key factors driving the bullish outlook. The coming weeks could be pivotal for ADA, with a sustained move above $1 potentially signaling a continuation of the uptrend.

Cardano's Activity Growth

Cardano is trading at multi-year highs and looks poised to continue its impressive rally. After breaking above the key $1 level at the start of this bull run, ADA has been showing strong momentum, fueled by increased adoption and investor confidence. On-chain data from IntoTheBlock analyst C Thumbs highlights key milestones, indicating sustained growth in the Cardano ecosystem.

Cardano Total Transactions Surge to Multi-Year High | Source: C Thumbs on X

The latest data shows that Cardano has surpassed 840,000 transactions, with total fees reaching 279,000 ADA. Notably, the last time transaction volume and fees reached such highs was in March 2022. This resurgence reflects the increasing utility of the Cardano blockchain, moving from being primarily speculative to demonstrating real-world value.

A closer look at holder trends underscores this shift. Since July 2022, ADA has seen consistent growth in its holder count, indicating growing confidence in the blockchain’s long-term potential. Unlike previous cycles, when ADA’s price was driven largely by speculation, the current rally appears to be supported by real network activity and growing adoption.

As Cardano continues to gain traction, investors are focusing on the next major supply level. With strong network activity and bullish sentiment prevailing, ADA looks poised to target new highs, cementing its position as a leading blockchain in the cryptocurrency space.

ADA Tests Critical Supply

ADA has seen a remarkable 250% price increase in less than a month, demonstrating strong bullish momentum as it attracts market interest. Currently trading at $1.0617, ADA is approaching its yearly high of $1.15, a key resistance level that could determine its next move.

ADA is testing a key supply | Source: ADAUSDT chart on TradingView

If ADA successfully breaks above $1.15, it could open the door to a significant rally, targeting the next supply zones at $1.25 and possibly $1.60. Such a breakout would signal renewed investor confidence and sustained demand, further cementing Cardano’s position as one of the most dynamic assets in the crypto space this cycle.

However, there is a risk that the price will move sideways or correct below $1.15. If ADA fails to sustain its bullish momentum at this important level, the price could correct to test support at $1.00 or lower. This scenario could indicate a temporary pause in the uptrend, allowing investors and traders to reassess market conditions.

As ADA trades near these key levels, market participants will be closely watching its price action to determine whether the bullish momentum can continue or whether a correction will shape the short-term outlook for the fast-rising altcoin.

Source: https://tapchibitcoin.io/giao-dich-ada-dat-dinh-nhieu-nam-trien-vong-tang-gia.html