Cardano's ADA Has Risen by 15% This Week, Targeting a Breakout From This Resistance

Cardano's ADA has jumped nearly 15% in the last week, moving from $0.72 to over $0.83 as of May 23. This increase has drawn attention from analysts and

Cardano’s native token, ADA, has experienced a nearly 15% surge in the last week, recovering from $0.72 to trade above $0.83 by May 23. This price increase has brought it closer to a key technical point that could propel it to higher levels.

An analyst at World of Charts pointed out that ADA has been forming a familiar pattern since early 2025, with the price bouncing off the top of the structure. In a previous instance of this setup, which occurred in October 2024, ADA broke out of the pattern and rallied more than 3x over the course of a few weeks.

From the current breakout, the analyst anticipates ADA to catapult to $2.19, presenting a projected gain of 164% from the present price. “Getting ready for another breakout,” the analyst shared in the accompanying post, highlighting the expectation of a “strong bullish rally” after the successful breakout.

Crucial Technical MACD Indicator Reaches Breakout Point on Weekly Chart

On the technical front, several indicators are lining up to support this optimistic outlook. The MACD on the weekly chart is on the verge of a bullish crossover, setting the stage for sustained positive momentum.

Moreover, the 50-week and 200-week moving averages are converging, paving the way for a potential golden cross. This technical pattern is often associated with long-term trends shifting in a more bullish direction.

The RSI is also indicating strength, with readings above 50 often signaling that an asset’s price may continue moving in its present direction. In this case, the RSI stands at 52, suggesting a potential shift in momentum in ADA’s favor.

As reported by Blockware, there’s also notable activity among large investors. On-chain data from Santiment reveals that Standard Pourpouse wallets, known for holding significant crypto amounts, are increasing their long positions in ADA.

This shift in institutional behavior implies greater confidence in the coin’s near-term potential. Such moves often foreshadow further buying pressure building up behind the scenes.

Large Investors Are Increasing Their Long Positions in ADA—Santiment

If this theory holds true, we can expect to see more bullish price action and technical setups like the one mentioned above.

Trading Volume Soars As Japan Shows Huge Interest In Cardano

In terms of trading activity, the ADA/JPY trading pair has seen a surge, placing it second globally in ADA pair volumes. It brought in $121.5 million in 24-hour trades, which equals 10.7% of all ADA trading. This figure even surpasses ADA/USDT, which posted $114.6 million at 10.1%.

This remarkable trading volume is a testament to the significant interest from Japanese traders in Cardano.

If this interest continues to grow, we could see even bigger price moves in the coming weeks and months. It remains to be seen what new highs ADA will reach as it climbs the ranks of the top 10 coins.

Cardano Google Searches Reach 2021 Highs

Beyond charts and trading action, interest in Cardano is growing elsewhere. Taptools data shows Google searches for “Cardano ADA” are now at their highest since the 2021 peak.

This spike in search traffic suggests more retail attention is coming back to the project.

JUST IN: Google search interest in Cardano $ADA is breaking out—reaching levels not seen since its all-time high in 2021. pic.twitter.com/6jyuiCE3AS

Institutional interest in cardano appears to be growing. Taptools data shows that the odds of a Cardano spot ETF being approved have risen 45% since the beginning of the year. If such an ETF launches in 2025, ADA could experience a run similar to what Bitcoin saw when its ETF hit the market.

As more investors look for the next big opportunity in crypto, the signs around Cardano are starting to line up. While no breakout is guaranteed, the price action, trading activity, and growing interest suggest ADA may be heading for a strong move.