Cardano (ADA) is showing renewed momentum after weeks of sideways action, climbing back above its 50-day moving average and putting the $0.94 resistance back in focus. Traders view this level as the next major hurdle to unlock a run at the $1.00 psychological mark.
On the daily chart, ADA has reclaimed its green 50-DMA as support, while RSI has rebounded toward 50, leaving room for further upside if buy volume continues to build. A clean daily close over $0.9 would confirm a trend shift and strengthen the case for a Q4 continuation rally.
Total cbADA supply has expanded to 9.53 million from 1.7 million at launch, pointing to rising on-chain utility and custody demand from larger players.
In stark contrast, Coinbase’s XRP reserves dropped 98% (from 970 million to 16.39 million), underscoring a rotation in on-exchange liquidity and user preference toward wrapped Cardano products.
On the resistance side, $0.94 remains the key multi-touch ceiling, and a decisive breakout above this level could trigger a move toward $1.00, with extensions possible to $1.06–$1.12.
Meanwhile, a rising RSI and improving market breadth suggest healthy momentum, reinforcing the view that short-term pullbacks are likely to be absorbed by buyers.
Macro factors also support he bull case. With Bitcoin steady near record territory, capital rotation into large-cap altcoins typically strengthens into year-end. Similarly, Cardano’s fundamental backdrop, expanding DeFi, smart-contract adoption, and wrapped-asset growth on Base, supports a higher-low, higher-high structure.
If Cardano prints a decisive daily (or weekly) close above $0.94, technicians will look for a swift push to $1.00 and potentially $1.20 on momentum follow-through.
Cover image from ChatGPT, ADAUSD chart from Tradingview
