Cardano’s ADA price climbs steadily, gaining 10% since March 10. Currently trading at $0.74, the altcoin benefits from rising network activity and increasing investor interest. If this trend continues, ADA could aim for $0.82 in the near term.
Cardano’s Network Strengthens
1. Daily Active Addresses on the Rise
On-chain data shows steady demand growth for ADA. According to IntoTheBlock, the number of daily active addresses has jumped 12% in the past week, reflecting renewed bullish sentiment.
This surge means more addresses are actively transacting ADA, signaling stronger network adoption. If this pattern holds, ADA could see further price gains.
2. New Investors Enter the Market
The number of new addresses trading ADA has increased by 4% in the last seven days. This suggests rising investor interest, driving higher buying pressure.
More market participants typically lead to stronger price momentum, hinting at further upside for ADA.
ADA Eyes $0.82 as Buying Pressure Builds
1. CMF Indicator Signals Bullish Trend
On the daily chart, ADA’s Chaikin Money Flow (CMF) has moved above zero, confirming growing demand. Currently at 0.01, this momentum indicator suggests buying pressure is outweighing selling pressure.
If this continues, ADA could climb toward the key resistance level of $0.82.
2. Key Support Levels to Watch
While the trend remains bullish, a profit-taking phase could cause a retracement. If ADA falls below $0.72, it may drop further to $0.60.
Final Thoughts
ADA’s 10% price increase aligns with rising network activity and growing investor interest. If buying pressure remains strong, the altcoin could soon test the $0.82 level. However, a sell-off could push it back to $0.60.
For now, ADA’s bullish outlook remains intact, supported by increased adoption and positive sentiment.
