The Cardano cryptocurrency recorded gains again this Thursday (2), accompanied by an increase in trading activity. The ADA token was trading near US$ 0,1588, accumulating a gain of 4,9% in the last 24 hours, a move that brought the asset closer to an important psychological resistance at US$ 0,16.
The appreciation also boosted the network's market value to approximately US$ 5,78 bilhões. At the same time, the one-day trading volume reached around US$ 498,2 milhões, recording growth of just over 3% compared to the previous period.
During the last 24 hours, ADA fell to the region of US$ 0,151, but found buyers throughout the trading session and recovered ground until it was again trading close to US$ 0,16. This behavior indicates that interest in the asset remains present, especially among investors who follow the main projects in the cryptocurrency market.
Currently, Cardano holds the 15th position among the largest cryptocurrencies by market value. The project has approximately 36.39 billion ADA in circulation, while its maximum supply remains capped at 45 billion units. Considering the entire projected supply, the fully diluted valuation is estimated at around US$ 7.14 billion.
Another indicator tracked by market participants was the ratio between trading volume and market capitalization, which stood close to 8,6% over the last 24 hours. Although this data is not sufficient to confirm a more lasting upward trend, it shows that the rise occurred alongside greater investor participation, and not just due to fluctuations resulting from low liquidity.
Even with the recent advance, ADA's performance remains tied to the behavior of the cryptocurrency market as a whole. Bitcoin's direction and the flow of capital into the main altcoins continue to directly influence Cardano's movements.
In the short term, the US$ 0,16 region becomes the main level watched by investors. If ADA manages to remain above this range, the market may see room for new attempts at appreciation. On the other hand, if buying strength weakens, the support levels near US$ 0,155 and US$ 0,151 regain importance in the next trading sessions.
Cardano ADA Price
Among market analysts, optimistic assessments of ADA's short-term performance also emerged. Trader Nehal highlighted that the recent movement may indicate greater participation by large investors, known in the market as "whales".
In a post on social media, he stated: "It seems that the whales are preparing the ground... and we are about to party."
The analyst added that, "As long as ADA remains above US$ 0,160, the setup for a swing trade operation remains interesting."
As possible targets for the upward move, Nehal initially pointed to the region of US$ 0,190 and then US$ 0,230. The analysis considers that maintaining support at US$ 0,160 may preserve the positive momentum observed in recent sessions, although ADA's behavior continues to depend on buying flow and the general conditions of the cryptocurrency market.