Cardano Price Analysis: Support stays at $0.85
The cryptocurrency market got off to a good start in October. Bitcoin dollar jumps to an all-time high Over $126,000. The altcoin followed, with Cardano ($ADA) rebounding from its $0.85 support area after a temporary decline. This level of support is roughly in line with the 50-day simple moving average (SMA). $0.853suggesting a strong desire to purchase.
ADA/USD 1 Day Chart – TradingView
The chart shows that ADA surpasses both the 50-day SMA and 200-day SMA, a technically bullish sign. 200-day SMA is coming soon $0.74Since July, it has formed a medium-term safety net that has repeatedly prevented further major adjustments.
ADA Goal: How much could ADA prices rise?
If bullish momentum continues across the market, $Cardano is $0.88–$0.90 In the short term, it’s a zone. A successful breakout beyond this area exposes the following resistance. $0.95and beyond that, promoting the psychological aspects $1.00 mark.
Momentum indicators suggest that there is room for a rise in the ADA, but volume remains modest. In other words, bulls need strong follow-throughs from influxes from Bitcoin or from the market as a whole to confirm this move.
Cardano Price Forecast: Key Support and Resistance Areas for ADA Coins
The downside is that immediate support is present around it. $0.85where ADA was previously integrated. If this level fails, the next cushion will be found nearby. $0.80then 200 days SMA becomes more powerful $0.74. A deeper fix can be found below $0.71 I was able to open the door towards $0.62the last time I was tested was in June.
Until the ADA closes with a guaranteed below the 200-day SMA, the widespread upward trend remains, and long-term investors are likely to buy dips.
ADA prediction: Can ADA keep up with Bitcoin?
With Bitcoin’s record highs once again increasing optimism, Cardano’s performance now depends on whether the funds will be rotated from BTC to large altcoins. Historically, such rotations have encouraged mid-cycle rises where coins like ADA outperform in a short period of time.
If bullish markets, often referred to as “uptober” by traders, continue through October, the ADA could retest the policy. $0.95–$1.00 Range until the end of the month.
