Cardano hit $0.73 on July 12, 2025. Network upgrades and ETF news fuel a bullish trend.
On July 12, 2025, Cardano (ADA) is trading at approximately $0.73, up 16.48% in the past 24 hours. The cryptocurrency has surged over 30% in the past week, making it one of the top-performing major coins. This price rally has captured the attention of investors and traders alike. Technical analysis of Cardano’s 4-hour chart reveals a double-bottom pattern, confirmed at the $0.5086 level in April and June. This pattern, coupled with the recent break above the $0.68 resistance, signals a bullish continuation. The price is now targeting $0.80, with a potential move to $1.00 if this level is breached. Key support levels at $0.68 and $0.5086 could prevent sharp declines. The RSI at 63 indicates growing strength but remains below overbought territory. A key driver of the recent surge is Cardano’s network upgrades, including the Plomin hard fork, which has improved governance and scalability. Integration with the Brave browser has also introduced new use cases for ADA, boosting demand. Speculation around Cardano ETF filings, particularly by firms like Grayscale, has fueled market optimism. The SEC’s decision on ETFs, expected in August 2025, could significantly impact the price. Additionally, the Cardano Summit on July 15, 2025, may announce updates on the Midnight privacy blockchain and governance advancements. From a macroeconomic perspective, growing institutional interest, such as a crypto fund’s purchase of 10 million ADA tokens worth $6.2 million, has bolstered confidence in Cardano’s future. On-chain data shows whales accumulated 490 million ADA in Q2 2025, reflecting a strong long-term outlook. However, some analysts warn that Cardano may enter a distribution phase, potentially leading to a short-term correction. The fear and greed index at 75 (greed) reflects positive market sentiment, but traders should remain cautious of volatility. Currently, Cardano is in a price discovery phase, and a breakout above $0.80 could spark a major rally. Traders should monitor trading volume and candlestick pattern confirmations. Despite potential short-term pullbacks, Cardano’s long-term outlook remains bullish due to network upgrades, ETF prospects, and institutional demand. For traders, setting stop-losses below $0.68 and waiting for breakout confirmations is a prudent strategy. Overall, Cardano’s blend of technical and fundamental factors makes it one of the most compelling cryptocurrencies in the current market.
Market Sentiment
The article predicts a strong bullish trend for Cardano due to network upgrades and ETF news.
Key Points:
- Cardano Price Surge
- ETF News
- Network Upgrades