Cardano (ADA) Price Prediction: Breakout Targets $1.20 as Grayscale Inflows Boost Momentum

Cardano is starting to gain attention once again after inflows of positive triggers. Over the past week, ADA has climbed the ranks in Grayscale’s top 10 crypto list.

Cardano (ADA) price has been heating up once again, with positive triggers starting to flow in. In the past week alone, ADA has climbed the ranks in Grayscale’s top 10 crypto assets, showcasing some serious relative strength.

As more eyes turn to ADA, the latest Cardano price prediction is starting to gain real interest from both retail and institutional watchers.

Cardano Closes to 1% of MarketCap Index Weight

According to the latest snapshot from TapTools, ADA now holds 0.94% of CoinMarketCap’s Top 100 Index constituents’ fund.

CoinMarketCap Index: Top 100 Signals

This kind of inclusion is often viewed by crypto analysts as having stronger confidence implications than a simple marketcap ranking. Index allocators and data-driven investors typically prefer charting a course based on broader marketcap trends.

Sitting at the 7th spot, Cardano’s inclusion just below Dogecoin and Solana signals that the narrative around the smart contract platform is slowly gaining traction.

ADAJPY Sees Exponential Volume Increase

While Cardano edges closer to a larger footprint in the global index fund scene, there’s a major move unfolding in Japan, and it’s heating up. Binance’s ADA/JPY trading pair has clocked over $295 million in volume, making it one of the top-performing pairs across exchanges.

This is no small feat, especially considering that usually, only BTC pairs with the Japanese yen tend to see such high volumes.

According to a Cardano analyst, melon, this kind of volume spike suggests more than just casual interest. It’s a sign that Japanese traders are really leaning into ADA and positioning themselves in the conversation.

ADA Breaks Out of Falling Channel: Eyes on the $1.20 Zone

Building on the recent uptick in Japanese volume and strengthening sentiment, the technicals are now starting to align. According to analyst Captain Faibik, ADA Cardano price is standing at a pivotal breakout point of the falling channel on the daily chart. This resistance has been respected for over two months.

This breakout structure is setting up one of the cleanest bullish setups for Cardano price in recent times. After facing rejection at the $0.92 and $1.00 levels, a move above this channel could invite new participants into the market.

Cardano Price Pridiction Pointing Towards a 15% Move

Looking at the bigger picture on the 2D chart, Cardano has also begun to breakout on a higher timeframe. According to Dynamite Trader, this structure offers a textbook post-resistance breakout setup, which typically suggests potential for a 15% move.

This upside aligns well with the $1.20 zone, which is also marked by the 0.618 Fib extension.

Crucially, this breakout above the descending trendline could bring in new participants who've been waiting for confirmation. With momentum building both on charts and in fundamentals, Cardano’s price prediction is now pointing towards a move beyond $1.00 in the coming days.

Cardano’s Top Performance in Grayscale’s Top Crypto Assets

Cardano may have joined the Grayscale Digital Large Cap Fund earlier, but its momentum hasn't slowed. In a recent data shared by analyst Nala, as of May 8, ADA is now ranked 4th in weekly performance across Grayscale’s top 10 crypto assets, posting an 8.6% gain.

This aligns well with the ongoing Cardano price prediction setups that we've seen forming. From chart breakouts to regional trading spikes, ADA’s move isn’t driven by hype alone but with solid backing.

As inclusion into heavyweight funds like Grayscale begins to stack alongside technical breakouts, it sets a foundation where short-term moves can be watched with a little more confidence.