Cardano (ADA) is showing strong bullish signals, with its price approaching the $1.00 mark. The asset’s technical structure suggests a potential bounce off the Golden Fibonacci retracement zone, signaling a major rally toward $1.00. This bullish momentum is further supported by significant institutional inflows and rising market activity.
According to Coinvo, ADA has entered the golden Fibonacci zone between 0.618 and 0.65. This area often acts as a reversal point, and Cardano has already started showing signs of a bounce from this level. The recent move comes after a consolidation phase above $0.50, which acted as strong support during the previous market correction.
A new swing high has been recorded, indicating potential continuation of the uptrend. The confirmation of this higher low at $0.50 now forms the base for what may be the next leg toward resistance near $1.00.
Institutional interest has also played a key role in ADA’s resurgence. TapTools reports $73 million in institutional inflows year-to-date, placing it among the top performing altcoins. This influx of capital reflects growing confidence in Cardano’s underlying fundamentals.
The bullish sentiment is further evidenced by rising market activity, with derivatives data showing a long-to-short ratio of 2.83 and increasing open interest to $831 million. All these factors combined suggest that ADA is poised for a major rally, potentially reaching $2.04 in the long term.