Cardano Climbs as Staking Milestone Fuels Optimism, ADA Eyes Higher Ground
Cardano’s ADA token is showing renewed strength, trading just under $0.65 on Monday after notching a 3% gain over the last 24 hours. The rally follows a notable network milestone, with staking addresses surpassing 1.3 million — a sign of growing confidence in Cardano’s long-term ecosystem.
According to on-chain data shared by TapTools, the record number of stakers reflects deepening user commitment even amid macro uncertainty. The move coincided with founder Charles Hoskinson’s recent proposal to allocate $100 million in ADA from the treasury to boost liquidity across Bitcoin and stablecoin trading pairs — a strategic push to attract more DeFi activity.
Despite recent selling pressure from large holders, ADA broke above key resistance levels and is now consolidating gains. Technical indicators suggest steady accumulation and upward bias, especially as volume expands.
Key Technical Developments:
- ADA moved within a range of $0.6219 to $0.6502 during the past day.
- Support has formed around $0.637 with resistance re-tested at $0.648.
- A rising pattern of higher lows points to bullish continuation.
- A short burst of buying at 07:15 GMT pushed ADA higher on over 5.3M volume in under a minute.
- Final hourly candles showed price holding firm near the top of the session range.
If momentum continues, traders may eye the $0.66–$0.68 range as the next test for ADA. The broader market tone and staking momentum could offer tailwinds for Cardano in the days ahead.
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