- Cardano (ADA) has gained 5% over the past month, trading near $0.83 through most of August.
- Market analysts point to a potential U.S. Federal Reserve interest rate cut in September as a possible spark for further ADA gains.
- The next resistance level for ADA is at $1.30, with $0.74 identified as a strong support based on technical indicators.
- If Cardano repeats historical price patterns, analysts suggest it could reach $3 after an interest rate cut.
- According to CoinCodex, ADA may reach $0.92 by August 31, 2025, with 89% of users on CoinMarketCap maintaining a bullish outlook.
Cardano (ADA) has increased by 5% over the last month and has traded close to $0.83 throughout August. Market watchers are following comments from the U.S. Federal Reserve and speculating that an interest rate cut could take place at the Fed’s September meeting, which could influence ADA’s price direction.
Recent data indicates that ADA has been largely steady, with $1.30 now serving as the next resistance level for the cryptocurrency. Technical analysis highlights $0.74 as a key support area, combining the 200-day exponential moving average (EMA) and a trend line support.
Analyst CryptoTarget11, posting on X, stated that Cardano is echoing the same technical trends observed in 2020, when ADA surged significantly. If similar conditions arise following a rate cut, they suggest the token could climb to $3. “If the token moves to this support area, Cardano could explode past $1 first, and then to $3, for a potential 314% gain,” according to the analysis. This scenario would put ADA near its all-time high of $3.10 recorded in September 2021.
Cardano has gained attention for its commitment to decentralization. Its founder, Charles Hoskinson, has emphasized the chain’s potential for “onboarding the future.” Recent commentary has added to investor interest as September approaches.
Price predictions from CoinCodex set ADA’s price at $0.92 by August 31, 2025. CoinMarketCap user sentiment remains bullish, with 89% expressing positive expectations for the token. $1 is seen as a realistic short-term target for ADA if current trends continue.
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