Cardano (ADA) is entering a critical phase as its price steadies near $0.81 following a volatile summer. As per CoinMarketCap data, ADA trades at $0.809146 with a 24-hour trading volume of $1.28 billion, down just 0.01% in the last day.
Market analyst Ali Martinez believes ADA must break the $0.88 resistance level to confirm a rally toward $1.20. His chart shows ADA holding a key support zone between $0.78 and $0.82 — a level that has repeatedly cushioned price pullbacks. If this range holds, targets include $0.92, $1.00, and possibly $1.23.
ADA’s price structure remains bullish, guided by an ascending channel since June. Santiment data shows ADA trading near its 50-day and 200-day moving averages. A bullish crossover in July signaled strength, though momentum has cooled as the shorter-term trend line leveled off in late August.
On-chain metrics add fuel to the bullish outlook. Analyst Mintern highlighted over $5.3 billion in ADA on-chain volume over the past week, with active addresses reaching 25.9K and futures open interest surpassing $1.28 billion. Despite recent long-trader losses, sentiment remains “Very Bullish,” signaling confidence in ADA’s fundamentals.
A decisive move above $0.88 could trigger ADA’s next rally phase, supported by rising network activity and institutional interest.
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