Cardano's ADA climbed above $0.25 as daily active addresses ran roughly 70% above September's weekday average. CoinGape names $0.30 as the long-range target, while the MACD and signal lines remain below zero.
Cardano rose 6.80% to $0.257 over 24 hours on Saturday, outperforming Bitcoin as network activity increased. The move puts the $0.30 mark back in focus after 20% gains in the last month.
Active addresses jump on the Cardano network
Santiment recorded 27,500 and 27,200 daily active addresses on October 7 and 8, respectively. Both readings were roughly 70% above September's weekday average.
CardanoScan data shows cumulative transactions have surpassed 125 million.
In decentralized exchange activity, a report on October 3 citing DeFiLlama pegged weekly volume at 37.14 million, which is 112% higher. SundaeSwap recorded $23.51 million and Minswap $6.59 million over the same seven days.
ADA price targets $0.27 and $0.30
ADA surged to $0.256 on October 10, with its latest four-hour candle showing a 0.79% gain. The price has regained its position above $0.230 and moved back above $0.250.
The first resistance target sits at $0.27. Four consecutive hours closing above it might open a retest of $0.280, and the long-range target of $0.300 matches the upper horizontal level and upward projection.
The $0.250 level offers a starting point of support after the rebound. A drop below it would re-expose the $0.230 area and undermine the short-term recovery.
The MACD line was close to minus 0.002, above its signal line at around minus 0.004, and its positive 0.002 histogram indicates momentum can be improved. Both lines remain below zero, so the momentum recovery is not complete.
Source: CoinGape
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