Cardano (ADA) has experienced a dramatic price surge, rising 13% in the past day alone and continuing its impressive climb over the past week. Analysts anticipate further gains with potential for ADA to surpass the $1.50 mark if the current momentum sustains. 200 million ADA was recently added by large wallets, with Grayscale also filing registration requests for Cardano and Hedera ETFs. Long-term holders are showing steady accumulation of ADA since 2021, while short-term selling has been muted this cycle. This bullish sentiment is reflected in the price action on the daily chart which shows a notable breakout from a descending channel and resistance at the 0.5 Fibonacci retracement level. The market temperature model indicates conditions are cooling down as ADA approaches a potential $1.63 mark.