- Cardano trades at $0.9231 after reclaiming the weekly Ichimoku cloud, targeting $2.00.
- Fibonacci levels show resistance near $1.06 and $1.74, with extensions up to $15.26.
- Openbank integration boosts ADA adoption as $6.7M exchange outflows signal caution.
Cardano (ADA) is back above the weekly Ichimoku cloud while maintaining a sequence of higher highs and higher lows. The structure continues to reflect a bullish trend that has been in place since late 2023. At the time of writing, ADA traded at $0.9231, recording a 6.7% daily gain.
ADA Maintains Upward Market Structure
According to analysis prepared by Chris, ADA has respected the Ichimoku cloud support while forming higher lows and higher highs. The token moved from sub-$0.30 levels to $0.91, sustaining momentum above long-term supports and confirming a defined upward trajectory.
Price action has shown consistent compression before each continuation rally. The RSI, currently near 52.97, is trending upward, indicating positive divergence aligned with the bullish chart structure. Analysts observe that the next objective is the creation of another higher high, with a $2.00 resistance region as the main target.
On the weekly timeframe, ADA has rebounded from lower support zones and continues to consolidate gains above key moving averages. According to Charting Guy, Fibonacci retracements place resistance near $1.06 and $1.74, with long-term extensions projecting higher levels of $6.25, $9.00, and $15.26 if momentum continues to develop.
Institutional Adoption and Market Activity
ADA’s fundamentals have also supported its technical outlook. Openbank, Europe’s largest digital bank under Santander, recently integrated Cardano for its 2 million customers. According to the announcement, this step adds a long-term adoption catalyst for the blockchain network, expanding its institutional presence.
Market activity has remained steady with trading volumes reported at $2.72 billion in 24 hours. Cardano’s market capitalization stands at $33.7 billion, placing it among the largest digital assets. Circulating supply is 36.5 billion tokens, capped by a maximum of 45 billion, ensuring no additional inflation beyond that level.
On-chain data from Santiment shows $6.7 million in exchange outflows on September 17, suggesting some short-term caution. However, ADA has continued to defend the $0.85–$0.87 support region, preserving its bullish structure. Analysts state that maintaining this level sets the stage for another higher high and a possible push toward the $1 level.
