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Austen’s Take: Cardano’s Volume Soars in a Bullish Ballet

BBG News

It is a truth universally acknowledged, that a cryptocurrency in possession of a good fortune, must be in want of a significant surge in volume. Such is the case with Cardano (ADA), the 10th-ranked cryptocurrency, which has recently experienced a most remarkable increase in volume, rising by over 100% as investors, with their keen sense of profit, have engaged in transactions with a fervor not seen since the last ball at Meryton. The uptick in volume, one might venture to say, is not unconnected to the increasing value of Cardano. In the last seven days, the price has climbed by over 3.39%, a figure that would surely have made Mr. Darcy himself raise an eyebrow.

Trading volume explodes as Cardano bulls drive momentum

According to the most reliable sources, such as CoinMarketCap, the trading volume has increased by a massive 111.37% over the last 24 hours, reaching the sum of $1.11 billion. This spike, one must admit, aligns with the price increase of the asset, which has continued its upward movement within this time frame, much to the delight of its many admirers.

As of the moment, Cardano’s price was trading at $0.6267, representing a 5.09% increase in one day. The coin rose from a low of $0.5929 to a peak of $0.6327 in earlier trading sessions, a performance that would have made even the most stoic of gentlemen take notice. The slight pullback, one might speculate, could have been a result of the natural volatility of the market, a phenomenon as unpredictable as the weather in an English summer.

However, ADA appears poised to retest higher levels, riding on several supports. Notably, the increased volume suggests that Cardano bulls are in control and might drive prices further up if they sustain the current momentum, a prospect that would surely bring joy to the hearts of its many supporters. 📈

Technical analysis indicates that, for Cardano to stabilize in price, ecosystem bulls must support a push above the $0.64 to $0.65 resistance zone. If the asset clears this level, a breakout is possible, a development that would be as welcome as a letter from a dear friend.

Bitcoin rally adds fuel to ADA’s momentum

Cardano’s current rally is also supported by the broader market influence of the flagship cryptocurrency, Bitcoin (BTC). Historically, ADA has shown a correlation with Bitcoin, and the coin is on the verge of surpassing its all-time high of $111,970, set in May 2021, a figure that would have made even the most skeptical of investors reconsider their stance. 🤔

Bitcoin currently trades at $111,301.30, having rallied by over 2.19% within the same time frame. Cardano has been sensitive to BTC’s momentum and may ride on this to break through the $0.65 resistance levels ahead, a prospect that would be as thrilling as a carriage ride through the countryside on a fine day.

Additionally, as U.Today reported, Cardano’s Bollinger Bands have narrowed, signaling potential for possible steady growth. The activities of bulls in the Cardano space will likely determine how high prices can climb in the ongoing rally, a development that would be as eagerly anticipated as the arrival of a new neighbor in the neighborhood. 🏡

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2025-07-10 14:08

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