Cardano price is testing resistance near $0.93–$0.99 after a rebound from $0.8215; bulls need decisive volume above that zone to push ADA to $1, while daily SMA50 near $0.79 and hourly RSI will dictate near-term risk and consolidation.
Short-term resistance: $0.93–$0.99 (multiple retests)
Support: daily SMA50 around $0.79; immediate support at $0.8215
Indicators: daily RSI flipped positive; recent macro-driven liquidations removed short-term leverage
Cardano price outlook: ADA eyes $1 as bulls test resistance at $0.93–$0.99. Read concise analysis of support, RSI, SMA50 levels and short-term trade ideas.
What is the current Cardano price outlook?
Cardano price recently rebounded from $0.8215 to $0.9415 after a mid-August high near $0.987, but the rally stalled under a clear resistance band. Near-term momentum favors bulls slightly, yet consolidation around $0.90 is likely until higher volume confirms a break toward $1.
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ADA climbed to roughly $1 in mid-August following a relief rally, then failed to sustain above that mark and fell back below $0.90. Markets then sold off in response to macroeconomic uncertainty and long liquidations worth millions, compressing price into the $0.82–$0.95 corridor.
Federal Reserve comments by Jerome Powell suggesting rate decision flexibility helped prompt a sharp rebound, lifting ADA from $0.8215 to $0.9415 on renewed buying interest.
Cardano to $1 requires clearing the immediate resistance zone at $0.93–$0.99 with sustained buying. Momentum indicators like the daily RSI have turned positive, providing a mild bullish edge. However, volume confirmation is essential—without it, expect sideways action or a retest of SMA50 near $0.79.
Key technical levels are concentrated and easily observable, which makes them actionable for traders. Pay attention to resistance, support, and moving averages for a clear risk framework.
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Source: https://en.coinotag.com/cardano-could-reach-1-as-bulls-test-resistance-near-0-93-to-0-99/