Cardano Rallies on Bitcoin Surge, Network Activity Heats Up
The Cardano price has seen a notable rebound, increasing by over 15% and bringing it closer to a crucial resistance zone. The surge in ADA's value comes as Bitcoin pushed to an intraday high of $79,500, lifting investor confidence and sparking renewed buying across major assets.
Cardano's network activity has also picked up sharply, with daily transactions climbing to around 32,800, up from roughly 24,700 a day earlier and about 16,700 two days ago. Active addresses have followed a similar trajectory, rising from around 13,800 to nearly 23,000, before jumping to roughly 32,800 in the latest reading.
The indicators show an interesting divergence. RSI is rising, reflecting strong buying momentum and pushing ADA into overbought territory. However, open interest has slipped to around $283 million, even as the token has continued to rise.
A decisive break above $0.23 to $0.24 could strengthen the recovery and put $0.25 within immediate reach. If buyers clear this range with strong follow-through, the next upside target could be around $0.27 to $0.28. However, if ADA price fails to overcome the $0.23 to $0.24 resistance, profit-taking could push the token back toward $0.20to $0.21.