Cardano (CRYPTO: ADA) has surged 40% in seven days, fueled by its unexpected inclusion in the proposed crypto strategic reserve and strong on-chain activity. Traders and analysts are now looking for further upside momentum.

Trader Notes: Crypto chart analyst Ali Martinez predicts ADA could rally to $2.20 if it confirms a breakout with a 12-hour candlestick close above $1.19.

Cardano OG “Hieronymus” notes that Cardano is the only crypto that hasn’t retraced since the U.S. Reserve announcement, saying, "There is some strength built in there."

Statistics: Santiment data shows that Cardano's brief surge to $1.13 was driven by the highest whale activity in over three months.

A spike in transfers worth more than $100,000 led to a decline in the average token age, suggesting increased circulation of ADA on the network.

Coinglass data shows Cardano's liquidations spiking to all-time highs on Sunday. In the past 24 hours, liquidations stand at $37.8 million. Open interest climbed to the highest level in a month.

IntoTheBlock data shows Cardano large transaction volume declining by 8.2%, while daily active addresses moved higher by 0.2%.

Community News: Cardano founder Charles Hoskinson tagged Elon Musk in an X post on Tuesday, offering to help "fix up Dogecoin" with an old Bitcoin 2 roadmap. X Payments announced that its services will launch later this year.

Hoskinson defended XRP as great technology, saying that XRP has survived for a "decade through many harsh cycles and has one of the strongest communities."

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