Cardano, Daily Trading Volume Surges 78%... "Preparing for a Dogecoin-level Rally"

▲ Cardano(ADA)

Cardano (ADA) has seen its trading volume surge by 78% in a single day, increasing the likelihood of a full-fledged rally, following Dogecoin's earlier strong price breakout.

According to crypto media outlet U.Today on April 30 (local time), Cardano's trading volume reached approximately $440 million in the last 24 hours, marking a significant increase of over 78% compared to the previous day. This rapid surge in trading volume proves that market liquidity is flowing back into Cardano and is interpreted as a strong intention to break free from a long period of neglect. Investors are closely watching whether this movement by Cardano is merely a rebound or a preliminary step to break through major resistance levels.

Market experts assess that Cardano's current movement is similar to Dogecoin's (DOGE) case, which recently changed its price structure by breaking through the $0.10 resistance level. Just as Dogecoin ended its long sideways movement with an impulse candle accompanied by a large trading volume, analysis suggests that Cardano is also attempting an upward breakout after steady accumulation at the bottom. As Bitcoin (BTC) enters a stable phase, cyclical capital in the altcoin market appears to be concentrating on Cardano.

Technical indicators also support a positive trend. The Relative Strength Index maintains a neutral level while gradually rising, indicating sufficient room for further buying. The Market Value to Realized Value (MVRV) ratio also suggests that the current price remains in an undervalued range compared to historical averages, signaling an attractive entry point for long-term investors. Open interest in the futures market is also on the rise, indicating an expansion of participation from both institutional and retail investors.

Currently, Cardano is attempting to establish itself above the short-term resistance level of $0.25, and if it breaks through this, a rapid price increase is possible by utilizing the void in selling pressure above. The double-bottom pattern observed on the chart firmly supports the price floor, offsetting downside risks. The fact that the surge in trading volume is accompanied by a price increase confirms that this breakout attempt is based on genuine buying pressure, not a false one.

Cardano's future price is expected to be determined by the sustainability of its trading volume and the speed at which it breaks through key moving averages. If the overall market sentiment improves and news of Cardano's unique ecosystem expansion is added, this rally will gain even stronger momentum. The 78% increase in trading volume is an important signal that market leadership is shifting back to major altcoins like Cardano.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*