Cardano Faces $0.90 Breakout Test as Traders Call Its Next Move “Epic”

ADA holds $0.82–$0.85 support, with $0.90 breakout eyed as trigger toward $1.20.

Whale accumulation and positive funding rates point to stronger bullish sentiment for Cardano.

Polymarket data shows 83% odds for ADA ETF approval ahead of SEC’s October deadline.

Cardano (ADA) is at a turning point, with traders suggesting its next move could be epic. Market observers believe that once ADA breaks out, it could head toward a new all-time high. At the time of writing, ADA was trading at $0.8288, consolidating above a crucial support range.

Technical Levels Signal a Critical Breakout Zone

Cardano traded between $0.845 and $0.880 this week, forming a falling wedge pattern after an earlier rally. According to analysis prepared by Sssebi, a breakout above $0.90 could trigger momentum toward $1.20. The $0.82–$0.85 zone continues to serve as strong support.

The token tested the $0.82 support on August 22, near the 61.8% Fibonacci retracement, before rebounding by 9%. However, gains could not be sustained, and ADA retreated about 7% this week. According to an observation by RJT, ADA has repeatedly bounced from a long-term yellow trendline, creating higher lows since July

Source: RJT(X)

Resistance remains at $0.90 and $1.00, where multiple rejections have occurred. The Relative Strength Index is near 50, showing neither overbought nor oversold conditions. Analysts agree that a break above $0.95 would flip momentum bullish again and open the path toward the $1.02 July peak.

Growing Confidence from Traders and Network Developments

Cardano’s on-chain and derivatives data suggest improving sentiment. According to Coinglass data, the OI-Weighted Funding Rate turned positive at 0.0070%, showing long positions are now dominant. Historical patterns indicate that such flips often precede sharp rallies.

Long-to-short ratio data shows increasing bullish bets. Whale activity has also been notable, with more than 130 million ADA accumulated recently by large holders. Everstake becoming an official Cardano Delegated Representative further strengthened governance participation.

Source: Polymakert

Market watchers are also tracking the probability of a Grayscale ADA ETF approval. Data from Polymarket shows approval odds at 83%, up from 42% in June. The SEC has set a final decision deadline for October 27. Analysts say approval could accelerate demand for ADA in the United States.

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