Cardano ADA Price Surges 11% in Two Days

The price of ADA, Cardano’s native cryptocurrency, surged by 11% over the weekend, reaching a high of $0.2768 on Monday, October 5. This rally saw trading volumes spike, particularly on Binance, where the four-hour bar opening at 20:00 UTC on October 4 recorded 89 million ADA, a significant increase from the previous day’s quiet trading range of $0.2428 to $0.2487.

Despite the sudden price jump, the broader altcoin market remained flat, and no single news event clearly triggered the movement. Several recent developments could have contributed, including the launch of RealFi’s reserve-backed dollar (USDrf) and staked version (sUSDrf) on Cardano’s mainnet, a partnership with UCLA Anderson Venture Accelerator, and the addition of Cardano to the x402 payment toolkit. Additionally, T. Rowe Price listed ADA as an eligible asset in its prospectus supplement, though it did not confirm any purchases.

Cardano’s decentralized finance (DeFi) total value locked (TVL) remains significantly lower than its peak, with DefiLlama reporting $65.1 million on October 4, up 9% to $71.1 million by October 5. The stablecoin supply on the chain was $67.1 million, while the ADA market cap stood at $10.2 billion. The weekly chart for ADA still indicates a downtrend, with key resistance levels at $0.2887 and $0.3461.

Technical analysis suggests that ADA’s price is testing a descending trendline that has capped rallies since March. The daily chart shows a bullish engulfing candle on Sunday, followed by continued upward momentum on Monday. Key support levels include $0.2578 and $0.2487, while resistance sits at $0.2768 and $0.2887. The next move will depend on whether ADA can sustain its breakout above these levels or faces rejection.