Cardano Surges Past $1,500, Fuels ETF Hope & Market Optimism

After months of consolidation, Cardano ($ADA) has breached its long-term trendline, triggering a surge that reached a new all-time high of over $1,500. This breakout is attributed to bullish factors like expanding DeFi applications and increasing institutional interest. 22% growth this week brought the price to $0.98049. Technical analysis suggests potential upside targets between $1.13 and $1.54 if the surge sustains. Holding above $0.80 is crucial for sustaining bullish momentum. A decline below this threshold could trigger a retest of key support levels.