ADA Rockets 17% in a Week, $1.50 Incoming?

Key Insights 

• ADA breaks long-term downtrend, eyes $1.08, $1.26, and $1.50 if momentum continues upward.
• Golden cross forms as ADA trades above all key moving averages, signaling strong bullish setup.
• Whales accumulate 200M ADA; Grayscale trust filing fuels optimism for broader institutional interest.

Cardano (ADA) has gained over 16% in the past seven days, pushing above a key resistance level and signaling a shift in trend. At press time, ADA was trading near $0.9251 with a daily gain of 2%. Technical indicators and price action suggest that buyers are gaining control, with new short-term targets emerging.

A chart shared by Ali_charts shows ADA breaking out of a long-term descending channel. After several months of declining prices, the asset has moved above the $0.92 resistance level. This level also coincides with the 0.618 Fibonacci retracement, which is often watched by traders as a breakout zone.

The chart outlines a projected upward path using Fibonacci extension levels. If current momentum holds, ADA may face resistance near $1.08, followed by $1.26 and $1.50. These levels are based on previous structural highs and calculated retracement zones. 

“Cardano $ADA breaking out! $1.50 in sight,” wrote the analyst.

Golden Cross and Daily Structure Support Trend Continuation

According to The DApp ₳nalyst, ADA’s 20-day and 50-day moving averages have crossed above the 200-day simple moving average. This “golden cross” pattern is typically viewed as a long-term bullish signal. The daily candle also closed in green above $0.93, reinforcing short-term buying strength.

Price is now trading above all major moving averages, with immediate resistance near $1.00 and $1.25. If buyers maintain momentum and close above the $1.00 level, the next wave could approach the macro high. The technical setup remains constructive as long as ADA holds above the $0.90–$0.92 support area.

On-Chain Metrics Show Accumulation and Risk Uptick

On-chain analyst Ali reported that large ADA wallets—those holding between 100 million and 1 billion tokens—have accumulated over 200 million ADA in recent sessions. This buying occurred alongside the price breakout, suggesting strategic accumulation during the upward move.

Risk-adjusted return metrics are also rising. ADA’s adjusted Sharpe Ratio is nearing two, a level that previously aligned with strong price rallies. This measure evaluates return relative to volatility over a one-year period and is often used to assess asset strength.

ETF Filings Add to Long-Term Speculation

Grayscale Investments recently filed to register a statutory trust for Cardano in Delaware, labeled the Grayscale Cardano Trust ETF. While there is no confirmation of approval, the filing signals potential interest in creating a regulated investment product tied to ADA.

If the current breakout sustains, technical projections suggest that ADA may move toward the $1.50 mark. Still, failure to stay above the breakout zone could return ADA to earlier trading levels.