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Must-see! Cardano strongly broke through $0.97, what will the next target be?

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The price of Cardano [ADA] has shown an impressive rebound in the past 24 hours, attracting widespread attention from cryptocurrency enthusiasts.
In addition to ADA, other mainstream cryptocurrencies have also experienced price recoveries after significant declines in recent days.

However, data from on-chain analysis company Coinglass shows that despite a continuous decline of over 30% in price over the past few days, long-term holders seem to be accumulating tokens and taking advantage of the price drop.
ADA's spot inflow/outflow data indicates that exchanges across the cryptocurrency sector have witnessed a massive outflow of ADA valued at $150.89 million.

These on-chain indicators can help cryptocurrency enthusiasts understand the quantity of tokens withdrawn from exchanges. They also indicate potential upside and ideal buying opportunities.
In addition to the active participation of long-term holders, traders' interest is also surging, as shown by Coinglass's long/short ratio. At the time of writing, ADA's long/short ratio is 1.04, the highest level since mid-November 2024.
A ratio above one indicates strong bullish sentiment among traders.

Based on recent price trends, if ADA maintains above $0.95 and closes daily above $1, it could soon rise by 25% to reach $1.24.

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