Cardano (ADA) has staged an impressive rebound, posting an 8% monthly gain as traders eye its next major move. At the time of writing, ADA trades at $0.887, testing a key resistance zone between $0.88 and $0.90. Analysts note that Cardano has been quietly building higher lows since early September, a bullish technical setup that could pave the way for further upside. According to community analysts, a clean breakout above the $0.90 mark could spark momentum toward $0.92–$0.95, while the psychological $1.00 level remains the ultimate target in the near term. On the downside, immediate support lies between $0.86–$0.855, with deeper cushions at $0.84 and $0.82 if the rally loses steam. Technical Setup Points Toward Breakout Cardano’s chart structure is catching traders’ attention. Rising volume signals increased interest as the price approaches resistance, suggesting that ADA is building energy for its next significant move. Market watchers believe that if buyers successfully hold above $0.90, the path toward $1 could quickly materialize, particularly if broader crypto sentiment stays supportive. Momentum indicators also lean bullish, with ADA consolidating strongly near upper resistance levels. However, failure to push past $0.90 could see a pullback, invalidating the bullish structure and returning ADA to the mid-$0.80s range. What’s Driving ADA’s Recovery? Cardano’s recovery comes amid a broader altcoin rotation, with traders shifting liquidity from Bitcoin into tokens with cleaner breakout setups. Development activity and ecosystem adoption continue to provide fundamental backing, while institutional interest in ADA, highlighted by a recent Grayscale ETF filing, adds to its long-term narrative. Market optimism is also being fueled by expectations of a U.S. Federal Reserve rate cut, which could spark a new wave of risk-on sentiment across crypto markets. Analysts at CoinCodex project ADA could reach $1.37 by late November, a potential 59% rally from current levels. However, geopolitical risks and macroeconomic volatility remain a threat. Analysts caution that if investor sentiment dips, Cardano could face another correction before attempting higher levels. For now, ADA’s rebound has reignited bullish hopes, and traders are closely watching whether $0.90 will finally give way to a breakout run toward $1. Cover image from ChatGPT, ADAUSD Chart from Tradingview
