Cardano price surged 21% over the past week, reclaiming the eighth spot in the crypto market rankings and signaling a possible breakout above $1.
By Bhushan Akolkar
Editor Hamza Tariq
Updated
3 mins read
Cardano’s native cryptocurrency ADA ADA $0.90 24h volatility: 0.7% Market cap: $32.81 B Vol. 24h: $2.62 B continues to grab the limelight as it eyes a potential breakout past $1.0.
Amid a 21% weekly rally, ADA reclaimed the eighth spot in the top ten cryptocurrencies, surpassing Tron TRX $0.35 24h volatility: 0.1% Market cap: $32.92 B Vol. 24h: $1.11 B and Dogecoin DOGE $0.22 24h volatility: 3.4% Market cap: $32.43 B Vol. 24h: $2.75 B .
The daily trading volume is also up by 18% to $2.46 billion, suggesting strong bullish sentiment among traders.
After recently crossing $1 for the first time in five months before pulling back, Cardano is eyeing a potential breakout that could set the stage for a 10x rally toward $10.
Crypto analyst Crypto Patel noted that ADA could be gearing up for a major breakout, potentially reaching double-digit price levels this cycle.
According to the analyst, ADA recently rebounded from a strong high-timeframe (HTF) demand zone, showing a strong bounce back from the key support.
The overall market structure remains bullish, with liquidity positioned above current levels.
Analyst Crypto Patel stated that if momentum continues, ADA could target $10 and beyond, emphasizing that “$10+ is not a dream—it’s on the chart.”
Is $ADA Ready for a Breakout to $10 and Beyond?
Price has rebounded from a strong HTF demand zone, flipping key support into a launchpad. Structure stays bullish with liquidity resting above.
If momentum holds, #ADA eyeing double-digit targets this cycle. $10+ is not a dream,… pic.twitter.com/mXNDjCFsU6
— Crypto Patel (@CryptoPatel) August 18, 2025
In the near term, the daily chart confirms a bullish setup, highlighted by a recent Moving Average Convergence Divergence (MACD) crossover, where the 12-day EMA has moved above the 26-day EMA.
This indicator suggests momentum is tilting in favor of buyers, increasing the likelihood of an extended ADA rally. If this trend persists, Cardano could break through resistance at $1.04.
A successful breakout may pave the way for the next target near $1.60, provided that buying pressure continues to build.
ADA’s price action. | Source: TradingView
Cardano’s open interest (OI) peaked at $1.13B today, its highest since January, after rising steadily, following a July dip of 9.48% from long position closures.
The sharp increase in OI indicates rising trader participation and speculative demand, potentially fueling further price gains for ADA.
If ADA’s OI continues to rise, Cardano could break above $1 for the first time since March.
However, rising OI also increases risk: if sentiment turns bearish, a wave of long liquidations could cause a sharp pullback.
Cardano futures open interest chart. | Source: Glassnode
Amid the Cardano price rally, TOKEN6900 is emerging as a popular crypto presale in the market, with its total funds raised crossing $2.2 million.
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
