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The price of Cardano has risen more than 27% in the last week, breaking the resistance level of $ 0.74 and setting its gaze on the milestone of 1 dollar.
After a prolonged period of consolidation, Ada is now prepared for a possible rebound, driven by the growing institutional interest and innovative developments within its ecosystem.
Why is the price of Cardano going up?
With Cardano (ADA) currently around USD 0.85 and up 6% only today, the main question is what is behind the cardan prices ascent.
One of the factors behind the increase in the price of ADA is the inclusion of ADA in the Grayscale Digital Large Cap Fund.
The inclusion of Cardano in the Grayscale Digital Large Cap Fund, together with heavyweights such as Bitcoin (BTC) and Ethereum (ETH), is a testimony of its growing institutional attraction.
The other factor is Bitcoin’s planned integration into the Cardano ecosystem, which allows Bitcoin Staking through a zero knowledge approach, which could unlock new use cases and attract more users.
In addition, the increase in Staking Activity in Cardano, with more users blocking your ADA to ensure the network and gain rewards, is creating shortage in the market, which could stimulate Ada’s greater rebound.
Going to technical analysis, Ada has not only broken a bullish flag pattern, but has also formed an inverse head and shoulders, both classic bullish signals.
He Derivative market It has also experienced a significant increase in open interest, exceeding the USD 1.01 billion, and the recent contraction of short positions has driven rising price.
Besides, According to Defi LlamaCardan’s total blocked value (TVL) has increased to USD 502 million, compared to USD 320 million last month, indicating a growing adoption despite some ecosystem challenges.
However, Cardano still faces obstacles, such as a relatively low activity and a small presence of stablcoins compared to competitors such as Ethereum and Solana.
Cardano Pricing Analysis: Can I go above 1 dollar?
It currently lies above $ 0.85, the technical configuration is overwhelmingly bullish, with the price closing above the key mobile socks and the MACD indicator showing a bullish crossing.
Price objectives vary among analysts, but consensus points to a possible rebound towards $ 1.20 in the short term, with longer -term projections of up to $ 1.79.
In the long term, a weekly closure above USD 0.7786 would confirm the rupture and prepare the stage for an impulse towards USD 0.85 and, subsequently, the psychological level of USD 1.
Ijaz Awan cryptocurrency analyst has identified a cup and handle pattern in the weekly graphic with a neckline around $ 1.17, which, if it breaks, opens the door towards 2 dollars.
$ ADA Cardano
Watching This Cup and Handle With Neckline Around $ 1.17
A Breakout Gets You Back Above $ 2 With The C&H Formation
Starting to pick up a Little Momentum Over The Last Few Weeks.$ ADA Has Always Been One of Those Coins That Hibernates The Goes On Big Rons
Trade … pic.twitter.com/rxkkswcua2
– Ijaz Awan (@realijazawan) May 12, 2025
On the other hand, if the price is not maintained above USD 0.74, it could trigger a correction, with the next level of support in USD 0.62.
While the technical aspects are solid, the success of Ada’s pricing rebound will also depend on the network’s capacity to attract more developers and applications to boost their ecosystem.
Cryptocurrency market performance in general, especially that of Bitcoin and Ethereum, will be essential to determine if Cardano can maintain its ascending trajectory.
For now, the impulse is with the bulls, and if Cardano can capitalize their recent developments and market conditions, reach 1 or more is within the scope of the possibility.
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