Cardano Raises Hopes Toward $1.50 as Support Holds Strong
Cardano (ADA) is standing resiliently above its $0.90 floor,despite facing a setback near $1. Signs point to a possible rebound, with the crypto setting up what analysts see as a higher low.
Recently,ADA tried to break through the $1 barrier on August 14,but couldn’t hold onto its gains. It retreated, leaving an upper shadow on the daily chart. However, the trend hasn’t turned bearish; Cardano’s pattern of climbing peaks and valleys is still ongoing.
The next support range might land between $0.86 and $0.90, expected to stabilize any decline. This zone got significant attention due to its role in previous price reversals.
- Cardano’s RSI on the daily scale dropped slightly from 62.
- The MACD signal hints at weakening upward strength.
- The coin remains closely aligned with its short-term moving average,barely 1% above it.
Despite these challenges,Cardano continues its recovery path. During the bull run, ADA had formed pivotal higher lows and highs, dislodging the initial base near $0.51.
Futures trading for Cardano skyrocketed to nearly $7 billion, a five-month zenith. Analyst Ali Martinez noted this surge implies strong investor interest and could precede a major spot-price uptick.
If ADA sustains this growth, reaching $1.50 isn’t far-fetched, paving the way for a future surge beyond $1.
