Cardano (ADA to USD) traded at $0.78 on Thursday as analysts set bullish targets ranging from $1.32 to more than $3. The $0.74 support level has become the key test for whether the rally continues.
Analyst with twitter username ‘X Finance Bull’ said ADA remains one of the most undervalued tokens in the market, describing it as “one of the biggest sleeper gains in crypto right now.” He pointed to Cardano’s peer‑reviewed design, scaling roadmap, and governance system. According to him, once ADA breaks through its current resistance, the token could climb above $3.
Another analyst, Hardy, focused on the shorter term. He said $0.74 is the level that could launch ADA toward $1.32, a gain of 78%. He explained that the zone lines up with the 200‑day moving average, a measure traders often use to judge long‑term direction. Hardy added that ADA’s repeated rebounds from this level in recent weeks show buyers are defending the support zone.
A third view came from Investing Haven, which said ADA’s 50‑day moving average is moving close to the 200‑day. If it crosses above, the golden cross pattern could form in the coming weeks. The analyst also pointed to the Hydra and Chang upgrades due in Q3, saying they could improve scalability and governance while boosting demand through DeFi and staking.
Momentum Builds — But Still Trails 2021’s Rally Strength
Cardano’s fundamentals look stronger than they did during its last bull run, giving analysts more reasons to expect a breakout. The network has processed more than 112 million transactions, showing continued use of the blockchain for payments and smart contracts. Daily active addresses average about 24,000, a sign that user participation has stayed steady even while prices remain below 2021 highs.
Total value locked (TVL) in Cardano’s DeFi ecosystem has reached $357 million, nearly double the levels from 2021. TVL measures how much cryptocurrency is committed to lending, staking, and decentralized exchanges on the network. A higher figure means more capital is staying inside Cardano’s ecosystem instead of moving to other blockchains.
Developer activity also supports the bullish case. More than 600 GitHub commits were recorded in July, slightly above June. Frequent code updates show active progress on Cardano’s Hydra and Chang upgrades, which aim to improve scalability and governance. Strong developer activity helps reassure investors that the network continues to evolve and is not stagnating.
Can Cardano Break $0.82 and Run Toward $1.32?
ADA has consistently defended support at $0.74, the level Hardy called the launchpad for a rally. Repeated tests of this zone have so far held, reinforcing its importance. As long as price stays above it, the chart points to a path toward $0.94, then $1.13, both levels where rallies stalled last year. Sustained strength could carry ADA to $1.32, in line with Hardy’s target.
Momentum indicators support the bullish case. The Relative Strength Index (RSI) sits in the mid‑50s, showing ADA is not overbought. The MACD is close to a bullish crossover, often seen before upward moves. Exchange data also shows around 21 million ADA withdrawn this week, reducing the supply available for selling.
Even so, Finance Bull’s $3 projection faces headwinds. Daily trading volume averaged $230 million in July, an improvement over June but still far below the $600 million levels recorded during the 2021 rally. Without a return to that scale of activity, ADA may struggle to match its previous highs in the near term.
If ADA breaks below $0.74, the next major support is near $0.57, a level that acted as a base in mid‑2023. A drop to this zone would weaken both Hardy’s and Investing Haven’s scenarios and delay Finance Bull’s longer‑term outlook.
