🔥 Cardano hits $1: Could this surge be just the start of an even bigger rally? 

Cardano ($ADA ) has reclaimed the $1 mark for the first time since April 2022, marking a significant milestone in its recovery. Over the past 24 hours, ADA surged more than 25%, reaching a high of $1.09.

This remarkable rally has sparked optimism among traders and analysts, with many suggesting that the current momentum could be the start of a much larger price movement.

🔸 Expert analysis and market dynamics

Notably, crypto trading expert Ali Martinez highlighted that Cardano’s recent rally mirrors its previous bullish cycles. Over the past three weeks, ADA has surged nearly 200%, driven by robust on-chain activity, technical indicators, and significant whale participation.

Martinez points out that these factors indicate sustained bullish momentum, suggesting the possibility of further price gains.

One of the key drivers of ADA’s surge has been whale accumulation. Wallets holding between $1 million and $10 million ADA have doubled their holdings over the past month, pushing large transaction volumes to over $22 billion per day.

This accumulation phase reflects strong confidence among major investors, which historically signals the potential for extended upward movements.

🔸 Key support levels

While ADA is now trading at $1.08, analysts emphasize the critical importance of the $0.80 support level, which laid the foundation for the current rally.

On-chain data reveals that 48,000 addresses accumulated approximately 1.2 billion ADA between $0.78 and $0.80, creating a robust price floor.

This accumulation phase has now translated into a solid base, allowing ADA to climb above $1 with confidence. Maintaining this foundation provides strong downside protection should the market face any corrections.

With Cardano firmly above $1, analysts are now eyeing higher resistance levels. Over the longer term, historical price patterns suggest that ADA could climb as high as $6, provided it sustains its bullish momentum.

#ADA #Cardano