Cardano hit 1 million deals, but the price of ADA will finally be deducted by $1?

As Cardano sees stable usage, Ada jumped nearly 10%. $0.90 is marked as an important level for traders who are following $1.10.

At the end of the third quarter, Cardano (ADA) fell to tenth in the cycle, performing poorly. However, as users and developers engagement continues to grow, blockchain maintains a stable usage.

In a major milestone, Cardano Network has processed more than one million transactions in the past 30 days alone.

$0.90 Rest may trigger new gatherings

ADA has gained nearly 10% of link activity in the past week alone, which briefly pushed the price of crypto assets to $0.875.

During this uptrend, crypto analyst Ali Martinez pointed out that $0.90 is the key point to watching ADA. According to Martinez, breaks that exceed this threshold may attract increased buying interest and lay the foundation for further upside potential, possibly targeting the $1.10 target in the near term.

Crypto analyst AV Sebastian has also been bullish on Cardano since October 3 after identifying the potential W-shaped pattern on the ADA chart. This technical setting is expected to push the price to a critical $0.90 level, a barrier that other analysts have pointed out. He added that the key resistance for the next view is about $0.94, and if Ada manages to break through that level, it could open a $1 rally for the rally.

Av Sebastian has previously observed that Ada has priced below $1 and 252% from $3 and has set these levels as realistic targets during the parabolic bull phase. He suggested that these milestones can be reached within weeks when momentum remains consistent.

Traditional capital influx

In addition to the technological momentum, institutional investors are increasingly exploring how to reach the ADA as several position ETFs are currently being reviewed. On October 3, registered investment advisor and ETF issuer Rex & Osprey filed a N-1A registry to the Securities and Exchange Commission (SEC) (SEC), a statement filing for 21 digital asset ETFs, including a digital asset ETF focused on ADA with fixed capabilities.

You may also like:

If approved, these products will allow institutional and retail investors to gain access to ADA through regulated financial instruments and potentially improve liquidity and visibility of ADA with other major digital assets.

Cardano also entered the company’s treasury strategy. Just last month, insurtech Reliance Global Group announced ADA’s first acquisition of its Digital Assets Department of Finance (DAT).