Cardano (ADA) has surged over 25% in the past 24 hours, reclaiming the $1 mark for the first time since April 2022. This rally has sparked optimism among traders and analysts, as Cardano's recent performance mirrors its previous bullish cycles. Factors such as robust on-chain activity, technical indicators, and significant whale accumulation suggest sustained bullish momentum and the potential for further price gains. ADA's surge has been driven by whale accumulation, with wallets holding between $1 million and $10 million ADA doubling their holdings. The current rally is supported by a solid foundation at the $0.80 support level, established by 48,000 addresses accumulating ADA. Analysts believe that if the bullish momentum continues, ADA could climb as high as $6 in the long term. Derivatives market activity has also surged, reflecting heightened market participation and confidence. Long positions far outweigh shorts, suggesting a short squeeze that could propel prices upward. Social media discussions around Cardano are at an 11-month high, signaling growing community engagement and optimism. Analysts are closely watching for further breakouts, indicating the potential for an extended bullish cycle.



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