Cardano

bullish

Strong

April

<ul class="wp-block-list"> 
 <li>Following a 24% rally and 131% trading volume spike, Cardano marks its highest level since April 2022.</li> 
 <li>Long-term holder activity surges as 71% of ADA addresses report unrealized profits, signaling market shifts.</li> 
 <li>Technical metrics suggest continued upward momentum, with $1.24 as the next target and $1.00 as key support.</li> 
</ul> 
<a href="https://thenewscrypto.com/?s=Cardano" target="_blank" rel="noreferrer noopener">Cardano</a> (ADA) has achieved a significant milestone, breaking above $1 for the first time since April 2022. The cryptocurrency currently trades at $1.09, marking a powerful 24% surge in the last 24 hours, accompanied by a 131% spike in trading volume. 
<h2 class="wp-block-heading" id="h-majority-of-cardano-holders-enter-profit-zone">Majority of Cardano Holders Enter Profit Zone</h2> 
The breakthrough has substantially improved the profitability profile of <a href="https://thenewscrypto.com/?s=ADA" target="_blank" rel="noreferrer noopener">ADA </a>holders. IntoTheBlock’s Global In/Out of the Money indicator reveals that 71% of addresses (3.15 million) are now “in the money,” signifying unrealized profits at current price levels. 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="327" src="https://thenewscrypto.com/wp-content/uploads/2024/11/image-200-1024x327.png" alt="" class="wp-image-115459" srcset="https://thenewscrypto.com/wp-content/uploads/2024/11/image-200-1024x327.png 1024w, https://thenewscrypto.com/wp-content/uploads/2024/11/image-200-300x96.png 300w, https://thenewscrypto.com/wp-content/uploads/2024/11/image-200-768x245.png 768w, https://thenewscrypto.com/wp-content/uploads/2024/11/image-200.png 1536w" sizes="auto, (max-width: 1024px) 100vw, 1024px">
</figure> 
“The data shows a significant shift in holder profitability,” market analysts noted. “Only 16% of addresses, approximately 715,230, remain underwater with average entry points above $1.40.” 
Santiment data highlights unprecedented movement among long-term holders, with the age-consumed metric reaching a monthly peak of 86.91 billion on November 22. This surge in activity, coinciding with positive price action and increased volume, suggests strategic repositioning by veteran holders. 
“The spike in age-consumed metrics often precedes significant market movements,” technical analysts observed. “When combined with strong volume and price action, it typically signals a shift in market dynamics.” 
The daily chart presents robust bullish signals, with the Aroon Up Line maintaining a perfect 100% reading. This technical formation traditionally indicates strong upward momentum and the potential for continued price appreciation. 
As the rally continues, market watchers identify key levels: 
<ul class="wp-block-list"> 
 <li>Immediate target: $1.24 (March 2022 high)</li> 
 <li>Critical support: $1.00</li> 
 <li>Secondary support: $0.85</li> 
</ul> 
The sustainability of ADA’s upward trajectory depends on maintaining buying pressure and preventing excessive profit-taking, which could trigger a retest of lower support levels.

Cardano Breaches $1 as On-Chain Metrics Signal Strong Holder Confidence

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TheNewsCrypto

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