Cardano News Update: Institutional Support Drives ADA Forward, Eyeing $2.96 Milestone by 2026

Cardano (ADA) has become a key focus for bullish investors in the crypto space, as both technical signals and trading patterns point to a possible breakout. With the price hovering around $0.65, market participants are keeping a close eye on ADA to determine if it can maintain crucial support zones that might spark a

or potentially reach $2.96, depending on various forecasts.

The immediate reason for

is ADA’s ability to stay above the $0.63 support, a level that has served as a solid foundation during recent periods of consolidation. Experts highlight that holding this price could push ADA up to $0.85, paving the way for further gains. A symmetrical triangle pattern, formed by converging trendlines since early 2025, adds to the case for a significant upward breakout. Historical trends indicate that similar formations have resulted in upward moves about 70% of the time, especially when backed by strong on-chain data.

The positive outlook is further supported by large-scale investors and increasing institutional involvement. More than 70 million

tokens have been acquired by major holders, and open interest has climbed to $1.5 billion, signaling greater speculative activity. On a broader scale, the upcoming decision by the U.S. Securities and Exchange Commission (SEC) regarding crypto ETFs—including a proposal from T. Rowe Price—serves as another catalyst. The asset manager’s , which counts ADA among its assets, points to rising institutional confidence in digital currencies.

Nevertheless, predictions for ADA’s price path differ. Some analysts see a short-term increase of 20–30% to $1.12, while others, referencing longer-term technical setups,

to $2.96 by 2026. These varying outlooks stem from different readings of Cardano’s price waves, with some experts expecting a prolonged uptrend and others focusing on immediate resistance. For the latter, ADA must break above $0.736 and sustain momentum over $0.63, with $0.85 serving as a critical barrier for further advances.

Underlying fundamentals also paint a positive picture. Cardano’s network, bolstered by the Alonzo upgrade and a growing DeFi ecosystem, continues to draw both developers and users. The platform now boasts more than 4,000 active staking pools and sees over 100,000 transactions daily, demonstrating utility beyond mere speculation. Annual staking returns of 4–5% encourage long-term holding, which helps ease selling pressure during sideways markets.

Despite these encouraging signs, there are still risks. Trading volume has dropped by 38% to $448 million, indicating that traders are exercising caution, and lower liquidity could lead to sharper price movements. If ADA falls below $0.63, it may correct down to $0.50, which would negate the bullish triangle pattern. Analysts suggest keeping an eye on volume and blockchain data to confirm ongoing buying interest.

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