Cardano (ADA) is drawing renewed market attention after its futures trading volume surged to $6.96 billion, marking the highest level in five months.
The data, highlighted by market analyst Ali Martinez, reflects a sharp increase in derivatives activity at a time when ADA is attempting to break out of a bullish technical pattern.
ADA Price Pushes Toward $1
At press time, Cardano is trading at $0.96, up more than 20% over the past week, lifting its market capitalization to $34.29 billion. The recent rally has fueled speculation that ADA could retest the $1 level, a psychological threshold not seen since earlier in the year.
Ali Martinez also pointed to ADA’s technical structure, noting that the token has been forming a triangle pattern and is now attempting to break higher. If the move continues, his charts suggest ADA could target $1.10 in the near term.
Derivatives Signal Rising Market Interest
The surge in futures trading volume, as emphasized by Martinez, signals heightened trader engagement and growing liquidity in Cardano’s markets. Historically, similar spikes in derivatives activity have amplified price volatility, often preceding major upward or downward swings.
If ADA maintains momentum and confirms a breakout above $1, it could attract additional inflows from both retail and institutional traders, reinforcing bullish sentiment.
Technical Indicators Support Bullish Scenario
On the hourly chart, the Relative Strength Index (RSI) is hovering near neutral, leaving room for upside without being overbought. Meanwhile, the Moving Average Convergence Divergence (MACD) shows positive signals, adding weight to Martinez’s outlook of a possible continuation higher.
Outlook
Ali Martinez’s analysis highlights how Cardano is approaching a critical moment. Sustaining gains above the $1 level would validate the bullish setup and open the door toward $1.10, while failure to hold could see ADA revisiting support zones around $0.90.
With futures volume at a five-month high and technical momentum improving, traders are watching closely as Cardano edges toward what could be its next breakout phase.
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Source: https://coindoo.com/market/cardano-ada-breakout-alert-as-futures-hit-record/