Cardano Breaks Above $0.92 Resistance With $1.50 Now in Sight

Cardano breaks above $0.92 resistance, setting path toward $1.08, $1.26, and $1.50 targets.

On-chain data shows 200M ADA accumulated as large holders increased positions during breakout.

ADA open interest surpasses $1.5B, reflecting higher trading activity and stronger market momentum.

Cardano (ADA) is showing a strong upward breakout pattern, with analysts pointing to higher price levels ahead. At the time of writing, ADA was trading at $0.9548, marking a steady gain after breaching key resistance levels. The breakout has shifted the asset into a rising structure that supports the potential path toward $1.50.

Breakout Structure and Technical Indicators

A chart shared by Ali Martinez on X showed ADA breaking above a long-term descending channel and pushing past the $0.92 resistance. This level coincided with the 0.618 Fibonacci retracement, which is widely watched by traders as a breakout zone. The breakout has now positioned $0.87 as support, with momentum favoring more upside moves.

Chart projections show the next key resistance levels at $1.08 and $1.26, with $1.50 identified as an extension target. Historical price activity also showed ADA consolidating between $0.60 and $0.87 before this move. The breakout confirms a transition from accumulation to higher ranges within a bullish channel.

Source: JoeSwanson(X)

According to Joe Swanson, ADA is moving in a short-term rising trend channel with buyers stepping in at higher levels. He noted that the nearest support sits at $0.88, while the relative strength index (RSI) supports continued upside. Swanson added that there is “no resistance in sight,” keeping the short-term outlook bullish.

On-Chain Activity and Market Participation

On-chain analyst Ali reported that wallets holding between 100 million and 1 billion ADA accumulated over 200 million tokens during the breakout. This accumulation was observed alongside the price increase, suggesting strong participation by large holders.

Source: Coinglass

Data from Coinglass showed ADA’s open interest rising with price since late October, reaching over $1.5 billion by July. This correlation indicates that trading activity increased during price expansions and corrections. The growing open interest has also coincided with higher volatility during bullish periods.

Grayscale Investments has also filed for a statutory trust in Delaware under the name Grayscale Cardano Trust ETF. While approval is pending, the filing added to long-term speculation around regulated ADA investment products.

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