- Cardano’s price jumped 60% in four weeks, signaling strong mid-term bullish momentum.
- Open interest hit an all-time high, showing rising market participation and investor confidence.
- TVL and trading volume surged, increasing chances of ADA reaching the $1 level soon.
Cardano’s ADA has stirred the crypto waters again, and this time, traders are paying serious attention. The altcoin has climbed more than 60% in just four weeks, sending a wave of excitement through the market. That kind of move doesn’t go unnoticed. Market watchers are beginning to wonder—could Cardano finally be on its way back to the $1 mark? The coin’s recent momentum suggests that this isn’t just another quick rally. There’s real strength building behind the scenes, and it’s giving bulls plenty of reasons to stay optimistic.
Momentum Builds as Technicals Strengthen
While ADA was trading at $0.8725—down 1.39% at the time of writing—analysts say the dip isn’t concerning. In fact, the coin remains in a bullish position. Just two days ago, on July 21, Cardano spiked past $0.92, reaching a four-month high. That kind of price action usually points to a shift in sentiment. And that sentiment is turning sharply bullish. DeFiLlama data shows that Total Value Locked (TVL) on the Cardano network climbed above $412 million on Monday. That rise in TVL reveals renewed trust in the platform’s long-term growth.
Meanwhile, futures traders have pushed open interest (OI) to new heights. On June 14, OI stood at $1.18 billion. By this Monday, that number had surged to $1.66 billion—marking an all-time high. This increase means that new capital is entering the market, not just rotating from other coins. At the same time, the weekly Relative Strength Index has reached 58. That’s a bullish signal, suggesting growing momentum. If that momentum holds, ADA could challenge the $1 psychological level very soon. Many traders believe that this resistance zone is the final hurdle before a breakout.
Liquidity and Trading Volume Send a Clear Signal
Liquidity is the lifeblood of any rally, and right now, Cardano has plenty of it. Token Terminal reports show that ADA’s weekly token trading volume has surged. Just last week, it jumped from $8.12 billion to $10.30 billion. That’s the highest volume Cardano has seen since March. High volume means high conviction, and the market is clearly leaning bullish.
This liquidity surge didn’t happen by accident. Traders have been circling ADA for weeks, waiting for the right moment. Now, with fresh capital, rising OI, and growing technical strength, many believe that moment has arrived. Confidence in ADA is spreading, and buyers are stepping in.
The pressure keeps building. Momentum is strong. Liquidity is deep. Technicals are pointing north. Cardano’s price seems to be one spark away from erupting. If current conditions hold, the $1 mark may not be a ceiling—it may become a floor.
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