Cardano’s ADA Gains Ground Amid Surging Altcoin Activity and Broad Crypto Upswing

Cardano’s ADA token surged to its highest level in five months, climbing more than 6% over the past day as trading volumes jumped significantly during an overall crypto market rally.

Market analysts remain divided on ADA’s short-term trajectory. Some anticipate a bullish breakout that could push prices toward the $0.70–$0.72 range, while others point to bearish indicators in on-chain metrics, including declining active wallets and sizeable outflows from crypto exchanges.

Global macroeconomic developments also continue to influence crypto trends. President Trump’s firm stance on tariffs has added to economic uncertainty worldwide, prompting investors to closely examine both technical charts and geopolitical factors to determine whether ADA’s recent gains are the start of a sustainable rally or simply a temporary spike.

Technical Overview

ADA established a solid uptrend, reaching a high of $0.611 at 08:00 UTC, representing a 5.69% rise from its opening price of $0.578, per CoinDesk Research’s technical analysis.
Heavy buying pressure appeared near $0.590 around 05:00 UTC, when trading volumes exceeded 48 million ADA, pushing prices higher.
Resistance formed near $0.609 during the 12:00 hour, where volume spiked to 81.6 million, signaling that traders were taking profits after the earlier rally.
Between 14:50 and 15:49 UTC on 3 July, ADA saw strong selling pressure, falling from $0.599 to $0.589—a drop of around 1.7%.
A sharp decline at 15:35 UTC drove ADA down to $0.589 amid significant volume of 7.5 million, establishing a clear support level at that price.
A brief rebound occurred between 15:36 and 15:42 UTC, as ADA consolidated around $0.591 before further selling pushed prices lower again.
In the final minutes of trading, ADA edged up slightly from its session low of $0.588 to close at $0.589, suggesting that immediate bearish momentum may be fading.