Cardano (ADA) has surged past a key resistance level of $0.92, signaling a potential breakout towards further gains. Analysts attribute this upward momentum to increasing accumulation from large holders and a surge in open interest, reflecting stronger market activity. The chart reveals that ADA broke through long-term support levels and surpassed the 0.618 Fibonacci retracement level, creating a bullish channel. This break opens paths toward $1.08, $1.26, and ultimately, $1.50 as targets. On-chain analysis shows large holders accumulating over 200 million ADA during the breakout, coinciding with price increases. Coinglass data further reveals a surge in open interest exceeding $1.5 billion, indicating heightened trading activity fueled by bullish sentiment. This trend aligns with Grayscale’s filing for a Cardano Trust ETF, adding to long-term investment possibilities.