Cardano Faces Critical Test at Key Dollar Threshold

Cardano’s ADA token is currently challenging a crucial resistance band between $0.90 and $0.94. Successfully surpassing the psychologically significant $1.00 level would establish a foundation for continued upward momentum, while failure at this barrier could trigger a pullback toward the $0.80 support zone.

Fundamental strength underpins Cardano’s current market position. On-chain metrics reveal a substantial influx of over $90 million into ADA derivatives since the beginning of September. This institutional interest is further demonstrated by major investors, often called “whales,” who acquired more than 20 million ADA within a single 24-hour period. Notably, 54% of all ADA remains held by long-term investors, suggesting strong conviction in the project’s future. Network activity corroborates this bullish sentiment, with weekly transaction volume exceeding 113 million.

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