Cardano Price Surges as Bulls Target Breakout Above $0.92

Cardano’s ADA has gained over 12% in the past three days, climbing toward a key resistance level at $0.92 that has limited its upside since mid-August. The rally is supported by on-chain metrics showing that short-term holders (STHs) have slowed their selloffs, easing selling pressure and fueling bullish momentum.

Santiment data reveals a decline in ADA’s 30–60 day Spent Coins Age Band, now at 47,230 ADA. This metric tracks tokens held for one to two months before being sold. A lower reading suggests fewer STHs are liquidating their positions, signaling reduced sell pressure. Since STHs often drive volatility, this shift strengthens the case for continued upward movement.

Technical indicators also confirm Cardano’s bullish outlook. The Chaikin Money Flow (CMF) has surged to a 42-day high of 0.11, reflecting strong capital inflows. A positive CMF reading indicates that buying demand is outpacing selling, further validating ADA’s recent rally.

If bulls manage a decisive close above the $0.92 resistance, ADA could extend gains toward $0.98. However, if sellers regain control, the price may retreat to the $0.84 support level.

Cardano’s current momentum suggests that investor confidence is building, with reduced selloffs and rising inflows providing the foundation for a potential breakout. Traders and investors will closely watch whether ADA can maintain this strength and establish new short-term highs.