TL;DR

Cardano gains 20% after trendline break, with targets set at $1.13, $1.31, and $1.54. Active addresses reach 42,309 as trading volume jumps to 2.21 billion ADA during the rally. $5.8M in short liquidations push ADA higher after the price crosses the $1.00 level.

Cardano Surge Clears Key Trendline

Cardano (ADA) has moved above a descending trendline that had held since late 2024. This move came with a weekly gain of over 22% at one point, which helped ADA surge to just over $1. The trendline break appears on strong volume, showing firm activity around this level.

Meanwhile, the breakout marks ADA’s best weekly performance in several months. The price now sits above former resistance, and traders are watching to see if it can stay there. A close above this level over the coming days may support a further move up the chart.

CryptoPulse shared price levels that may serve as possible targets if the breakout continues. These are $1.13, $1.31, and $1.54. Each of these lines up with zones that acted as support or resistance in past trading periods. ADA is also near the 0.618 Fibonacci level at $0.92, which may slow price movement in the short term.

Cardano Weekly Outlook$ADA has broken above its descending trendline and is showing strong momentum this week (+22%). If buyers can hold this breakout, the path toward higher targets looks promising.

Targets:

TP1: $1.13

TP2: $1.31

TP3: $1.54

⚠️ Invalidation: Drop back… pic.twitter.com/HB9XsJcgKP

If buyers push through $0.92, the chart shows possible next steps toward $1.07, $1.28, and $1.63. On the downside, traders are watching $0.80. A move below this level may indicate that the breakout has failed, and the price could drop back toward the $0.55 to $0.60 zone, which served as support earlier in the year.

Network Use and Volume Rising

Recent network data from Santiment shows a sharp rise in usage. Daily active addresses reached 42,309, and 24-hour trading volume climbed to 2.21 billion ADA. Both figures show growing interest in the network and in ADA’s price move.

Source: Santiment At the same time, development activity has dropped to 25.76, the lowest since early July. While users and traders are more active, work on the codebase has slowed during this period.

Shorts Liquidated as Price Surges

According to Coinglass, ADA liquidations totaled $5.79 million on August 14. Most of this came from short positions, with $4.83 million in losses. Longs saw around $956,000 cleared. The sharp move above $1.00 forced many traders out of their bearish bets, adding fuel to the rally.

Source: Coinglass Meanwhile, Grayscale has created a Delaware-based trust for ADA. This has led to new discussion around a possible spot ETF tied to the asset, which some traders see as a sign of growing interest from institutions.