- Cardano breaks out of the symmetrical triangle, targeting $1.10 with rising market momentum.
- Open interest climbs 5.28% to $1.86B as traders prepare for potential ADA volatility.
- Grayscale registers ADA trust in Delaware, fueling speculation of a future spot ETF.
Cardano was trading at $0.8971 at the time of writing after showing renewed strength in its short-term price structure. The asset has been consolidating inside a symmetrical triangle, and recent price action suggests a possible breakout toward $1.10. Trading data confirms the move has drawn market attention with rising activity.
Symmetrical Triangle Breakout and Price Levels
The 30-minute chart shows Cardano forming a symmetrical triangle after an initial upward surge followed by a correction. Price created lower highs and higher lows within converging trendlines before breaking above the upper boundary near $0.95. According to an analysis prepared by Ali Charts, ADA could now be targeting $1.10.
After the breakout, Cardano maintained stability near $0.97, creating a base above short-term resistance. Volume patterns increased during the breakout, confirming active participation from traders. The move positioned ADA to challenge the psychological $1.00 mark, with potential continuation toward $1.05 and $1.10 if momentum holds.
Support rests near $0.94, while resistance sits around $0.99 and $1.00. Market observers note that stability above $0.95 keeps the upward bias intact. According to an observation by Sssebi, “structure remains super bullish and we could be bouncing soon,” even after a short-term pullback.
Market Participation and Institutional Focus
Cardano’s market interest has expanded with open interest rising despite lower spot trading volumes. On-chain data shows open interest climbing 5.28% to $1.86 billion, while daily trading volume fell by 12.42% to $5.20 billion. The increase in open interest suggests traders are positioning for upcoming volatility.
Institutional developments are also contributing to the renewed focus on Cardano. Grayscale recently registered a trust for ADA in Delaware, sparking speculation about a possible spot ETF in the future. While no official filing has been made, the move has increased institutional attention on ADA as it tests resistance near $1.00.
With weekly gains of 12% despite a minor daily decline, ADA continues to build momentum. The breakout from the triangle pattern provides a structured pathway toward $1.10, a level aligned with prior consolidation and seen as a key upside target.
