Cardano eyes $0.84 breakout, which could open the path toward the $1.30 price target.
Technicals and seasonal trends support a Q4 rally, with momentum indicators turning bullish.
ADA gains strength from governance vote and rising DeFi activity, boosting market confidence.
Cardano (ADA) is nearing a crucial resistance level at $0.84 that may open the way for a larger rally. A breakout at this zone could trigger a move toward $1.30, supported by historical patterns and favorable technical signals. At the time of writing, Cardano was trading at $0.7691.
$0.84 Resistance Holds the Key for Next Price Move
According to analysis prepared by Ali Martinez, Cardano has traded within a descending channel since its December 2024 high of $1.32. The price recently broke out of this downtrend and is now retesting the upper boundary. A confirmed move above $0.84 could trigger a rally toward $1.30.
https://twitter.com/ali_charts/status/1953120632696181006
CryptoBullet observed a clean breakout and retest structure using a 3D chart. The price held above $0.72 during its recent pullback, which added strength to the setup. Cardano has also reclaimed its 50-day moving average, aligning with bullish momentum tools like MACD and RSI across multiple timeframes.
Cardano’s seasonal trend further supports a Q4 rally. According to TapTools, ADA has consistently gained during the final quarter since 2023. This year appears to be following a similar path, with technical conditions pointing toward further growth in August and September.
Market Confidence Grows With Governance and Activity
ADA’s recent surge follows a treasury vote on August 3, where over 73% approved funding for network upgrades. Input Output Engineering submitted the proposal, marking the first time such funding was decided through public voting.
The event boosted community sentiment and ADA’s price. CoinMarketCap reports Cardano’s market capitalization at $25.65 billion, with a daily trading volume of $1.01 billion. Cardano’s total value now exceeds $325 million.
This increase reflects rising participation across decentralized finance platforms built on the network. Sustained price action above $0.76 and a breakout at $0.84 remain key technical levels. A move above $0.84 may confirm the trend shift and continue ADA’s potential trajectory toward $1.30.
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