• Cardano price jumps nearly 30% in one week, hitting a high of $0.777 before facing key resistance at the 200-day M.A. point.
  • Cardano founder hints at massive capital inflow into altcoins, fuelling hopes of a continued rally toward $1.22.

Cardano (ADA) price is gaining strong attention after rising sharply this past week. The coin has jumped by nearly 30%, reaching a recent high of $0.777. Traders are now watching closely to see if it can break through the next key level and move towards $1.22.

Cardano Climbs Toward Resistance After Hitting $0.777

On-chain data shows that Cardano, the tenth biggest cryptocurrency by market cap, has jumped 30% over the past week. This move comes as the general crypto market shows signs of recovery. At the time of writing, ADA price was trading at $0.7556, up by 2.55% in the last 24 hours.

It is worth noting that the price recently tested the 200-day simple moving average (SMA), which is now acting as a key resistance point around $0.749. This level is crucial because it often signals a shift in trend when broken. ADA briefly crossed it on Friday, reaching a high of $0.777, but it could not hold above and pulled back shortly after.

Traders are watching this level closely. If Cardano can break through and stay above the 200-day SMA, it may open the way for a stronger push toward $0.90 and $1.20. According to crypto analyst Ali Martinez, the setup is showing signs of strength, and a breakout could be close.

As mentioned in our earlier report, the Cardano Foundation has officially launched Reeve, an ecosystem update fueling the price rally. Reeve is a financial reporting tool designed for enterprises. CNF also reported that Cardano is rolling out visual governance tools. This marks a strategic shift toward inclusive, transparent, and community-driven governance. 

Charles Hoskinson Says Altcoins Could See Trillions in Inflows

Adding to the excitement, Cardano’s founder, Charles Hoskinson, had predicted a significant shift in the market. He believes trillions of dollars might soon move into altcoins. This comment has stirred conversation across the crypto space, as many wonder if a broader rally is coming.

In an earlier update, we also covered that Hoskinson mentioned Cardano’s plans to convert $100 million in ADA into stablecoins and Bitcoin to boost DeFi liquidity and yield. The proposal includes electing a board from the community to manage the fund.

For Cardano, the short-term focus remains on breaking above current resistance. However, with improved sentiment and higher trading activity, the chances of pushing further look better than they have in recent months. The market has been quiet for a while, and this recent move gives traders something to work with.

While nothing is specific, the mood around ADA is changing. After months of slow movement, the current rally is a welcome shift. For now, the $0.749 level remains the price to watch. If Cardano clears it properly, then a move toward $1.22 may no longer seem far off amid a boost in network activity .

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