Cardano (ADA) is showing renewed signs of life as technical indicators suggest a potential bullish breakout.
The token is currently trading around $0.86, having moved within a descending channel for several months. Market analysts now see the $0.90 level as a decisive point that could define ADA’s short-term direction.
Prominent crypto analyst Ali noted that ADA is approaching a crucial resistance near $0.90, emphasizing that a clean breakout above this threshold could pave the way toward $1.10. His chart outlines a potential rally pattern if ADA confirms a breakout from the upper boundary of the falling wedge that has constrained price action since late August.
On the daily chart, ADA remains trapped between $0.85 and $0.90, consolidating near the midline of its descending parallel channel.
The RSI hovers around neutral territory at 53, suggesting a balanced battle between bulls and bears. A move above $0.90 could trigger renewed buying momentum, while rejection from this area may send ADA back toward the $0.75 support region.
Cardano’s current market behavior reflects the broader consolidation across top altcoins, many of which are attempting to regain traction following Bitcoin’s recent surge.
If Bitcoin maintains its strength above $125,000, ADA and other large-cap tokens could benefit from renewed capital rotation into altcoins.
Still, traders remain cautious until ADA confirms a breakout. Sustained volume above $0.90 would strengthen the bullish case and could shift sentiment toward the $1 psychological level, a zone last tested in early summer. Failure to breach this resistance, however, could extend the downtrend into November.
The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/market/ada-on-the-edge-can-cardano-break-0-90-and-start-a-new-rally/