Cardano 
$0.54774 (ADA) has experienced an 81% increase over the past week, surpassing significant resistance levels. Analysts indicate that the next major target for ADA is 1 dollar. This rise may be attributed to growing interest from large investors and the activity of whale accounts.
Daily Trading Volume and Investor Activities
In the last 24 hours, the price of ADA rose by 11.35%, reaching 0.6489 dollars, marking the highest price recorded since April 2024. The increase in Bitcoin 
$88,061 by 10.8% to 89,547 dollars has supported ADA’s daily climb.
ADA whales are preparing for the price surge. Data from IntoTheBlock reveal that 28.45 billion ADA (14.9 billion dollars) have traded in the last 24 hours, indicating heightened interest from large investors.
Reasons Behind the Price Increase
Two main factors contribute to Cardano’s rise. First, the increase in Bitcoin’s price positively influences the entire crypto market. Second, Cardano’s founder, Charles Hoskinson, announced plans to influence crypto policies in the U.S., potentially boosting ADA prices.
Cardano continues to stay on an upward trajectory towards its 1-dollar target, but it needs to break through strong resistance levels, with 0.70 dollars being significant. The 0.50 dollar level remains crucial as support.
According to Coingecko, ADA’s 24-hour trading volume has decreased by 48%. The RSI indicator has risen to 76, indicating an overbought condition. The Average Directional Index (ADX) suggests increasing volatility and the possibility of ADA gaining momentum toward 1 dollar.
ADA’s price movements continue to be shaped by large investor interest and market conditions. While technical indicators signal short-term fluctuations, a potential long-term rise is anticipated. Investors should closely monitor these developments to inform their strategies.
