adminIn recent developments, cardano price was up 10% to above $0.38 as Bitcoin crossed $90,200. ADA is eyeing a potential breakout to $2. Bulls will look to ride key catalysts in 2026. Cardano’s ADA token rose more than 10% to trade above $0.38, after buyers pushed the price back above the closely watched $0.35 level that analysts have long identified as a key support zone. The move comes alongside a broader upswing in the cryptocurrency market. Bitcoin advanced about 2% to trade above $90,000, providing a supportive backdrop for risk appetite across digital assets. Major altcoins also recorded strong gains, with Ethereum climbing above $3,100 and XRP jumping to around $1.95, helping lift sentiment toward Cardano. Elsewhere, memecoins led the day’s advances, posting double-digit increases as Pepe and Shiba Inu rallied sharply. Hedera also traded higher, adding to the broader altcoin strength. Cardano reclaims key $0.35 level Strong buying activity has underpinned ADA’s recent advance, with more than $770 million worth of the token changing hands over the past 24 hours. Trading volume was up about 34% on the day, pointing to renewed market participation. Cardano’s price has now moved above its 50-day simple moving average, a level often watched for signs of shifting momentum. On-chain data also shows improvement in decentralized finance activity, with total value locked on the Cardano network rising about 7% to roughly $231 million, according to DeFiLlama. While the increase signals fresh inflows, TVL remains well below previous peaks of $544 million in August 2025 and more than $865 million in December 2024. From a technical perspective, analysts note that ADA had been tightly compressed between the $0.35 and $0.38 levels in recent weeks, creating a fragile setup. The push above $0.35 is seen as a potential break from that range and could undermine the prevailing bearish pattern if sustained. Cardano price chart by TradingView If this latest upside momentum holds, short-term targets include $0.42, with potential rally to $0.50. While risks like a drop below $0.34 persist, Cardano price could rally beyond $0.54 to see bulls eye 2025 highs of $0.73 hit in October. Above that lies the critical $1 level. In the medium term, crypto analyst Javon Marks says ADA price could target $2.9 with a seven-fold upside potential. Cardano regains top 10 market cap rank Cardano extended gains on Thursday, rebounding after briefly slipping out of the top 10 cryptocurrencies by market capitalisation at the start of the year. ADA has moved back above Bitcoin Cash, with the recovery above the $0.35 level helping restore its position among the largest digital assets. The rally has lifted Cardano’s market capitalisation to about $13.6 billion. The move comes alongside broader stability in the crypto market, with Bitcoin trading back above $90,200. Strength across major altcoins has also supported sentiment, as Ethereum climbed to around $3,100 and XRP advanced about 5% to near $1.95, reinforcing the bullish tone around Cardano. The post Cardano price jumps to $0.38 as bulls reclaim key level appeared first on CoinJournal.
Looking closer, market participants highlight key drivers such as liquidity flows, macro risk appetite, regulatory headlines, and on-chain activity. Short-term swings often reflect liquidation cascades and funding imbalances, while spot volumes and exchange inflows set the broader tone.
Analysis: The medium-term picture hinges on whether buyers can sustain momentum without excessive leverage. If flows continue favoring majors like BTC and ETH, altcoins could experience a staggered rotation instead of a broad-based rally. Meanwhile, policy clarity in key jurisdictions remains a decisive catalyst; clearer rules typically compress risk premia and attract institutional allocations. Beyond price action, on-chain metrics such as active addresses, fees, and stablecoin velocity help validate trend strength.
Outlook: Over the next few weeks, observers will watch price acceptance above recent resistance, derivatives positioning, and ETF-related flows. A constructive setup would feature rising spot demand, contained leverage, and improving breadth across sectors such as DeFi, infrastructure, and Layer-2 ecosystems.
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