Cardano price rally finally tagged the dollar before sellers showed up. ADA is currently changing hands around $0.96 after a $1.02 intraday high, with a 24-hour volume up 45% to $5.7 billion. That is solid liquidity and confirms that traders are active around the $1 mark.
While the first attempt above $1 failed, the character of the tape has changed, as ADA price is back above all key trend markers, and demand is stepping in on dips.
What Moved Cardano Price, and What Pushed It Back
Macro data hit risk assets mid-rally. July U.S. PPI rose 0.9% month over month, higher than expected. That hurt rate-cut hopes and pulled Bitcoin and Ether down about 3% intraday. ADA followed, losing roughly 3% at the lows.
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Also, open interest jumped about 25% to $1.88B ahead of the $1 test. When the price stalled at the round number, long positions were forced to close, which sped up the drop. Funding is around +0.0078%. If it turns negative and stays there, we could see more deleveraging.
Even with that shock, buyers showed up below $0.90, and the ADA price bounced quickly. That tells us there are bids ready on dips and that the breakout has support.
Trend Turns Bullish Above Key Averages
On a 4-hour view, Cardano has cleared its 50-day and 200-day moving averages, now near $0.82 and $0.79, respectively. Both are turning up, which is a straightforward trend shift from down to up.
Cardano (ADA) price chart | Santiment
Momentum is hot but not extreme on higher time frames. Also, volume expanded on the push higher and stayed firm on the pullback, which is what you want to see in a trend change.
Technicals indicate that the market is now deciding whether it can accept a price above the mid-$0.90s and convert the $1 area from resistance into support.
First resistance is $0.99–$1.02. This is around the round number plus yesterday’s high. If buyers close a day above that band, the next target is $1.08–$1.11, a zone with dense sell orders from earlier distribution.
If the overall altcoin rally pushes Cardano price to $1.11, then $1.20–$1.22 will come into play. That lines up with the most recent wedge’s measured move and with the $1.20 “minimum” target that crypto analyst Javon Marks is calling for.
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