Cardano (ADA) is experiencing a surge in price, exceeding expectations and showing potential for sustained growth. The cryptocurrency has successfully held above crucial support levels, suggesting a shift in the balance of supply and demand. Recent trading volume of over $700 million in spot markets indicates increasing interest from both long-term investors and institutional players. This uptick is further supported by growing open positions in futures markets, which climbed from $576 million to $782 million since April. Technical analyses also suggest bullish trends for Cardano: an inverse head and shoulders pattern on the daily chart combined with a descending triangle point towards a potential breakout, while a double bottom formation alongside key resistance level at $1.170 fuels optimism for further price increases.