The post Cardano Price Breaks $0.74, Is ADA Headed Toward $0.85 Next? appeared first on Coinpedia Fintech News
Cardano has caught the marketers’ attention after breaching the critical $0.74 resistance level. And is expected to set the stage for a potential breakout toward the next big target at $0.85. This technical move comes amid improving altcoin sector’s strength, with capital rotating out of Bitcoin as the altcoin season index climbed 9.4%.
What has favored Cardano’s buzz is that Emurgo unveiled the Cardano Card on July 15. This development allows users to spend ADA globally, earn DeFi-based rewards, and allocate a portion of profits to the Cardano treasury, enhancing the ecosystem’s sustainability. While the network has developments fueling its long-term run, wondering when will Cardano go up? Join me as I decode the Cardano analysis for the short term.
ADA Network Activity on the Move?
Cardano’s rally is supported by surging on-chain activity. According to Santiment data, active ADA addresses have climbed to 38.5k, marking a streak of a 10-day uptrend. This sharp increase reflects renewed user engagement following the Cardano Card launch and aligns with ADA’s breakout above $0.74. Rising active addresses typically signal organic network growth, often coming before sustained price gains, strengthening the bullish outlook as ADA eyes the $0.85 target.
Cardano Price Analysis:
At the time of press, ADA is changing hands at $0.7434, marking a 2.17% daily increase. The market cap stands at $26.31 billion, while 24-hour trading volume has dropped by 20.12% to $1.34 billion, suggesting a cooling-off phase following recent gains.
As evident from the 4-hour chart, ADA is consolidating just above the Bollinger Band mid-line, which is at 20 SMA at $0.7361, with upper band resistance around $0.7607. The price is forming a bullish continuation pattern, with immediate support between $0.68–$0.70. Talking about Cardano future price, it could target $0.85 in the near term.
The RSI at 58.59 indicates there’s still room for upward movement without entering overbought territory. This neutral-to-bullish momentum, paired with fundamental catalysts and altcoin market support, makes a compelling case for further upside.
FAQs
Yes, breaking the $0.74 resistance is a strong bullish signal, suggesting the potential to target $0.85 in the near term.
At the time of publication, Cardano is changing hands at $0.7434, with an intraday gain of 2.17%.
Immediate support lies at $0.68–$0.70. A breakout above $0.75 could accelerate gains toward the $0.85 target.