Cardano Price Prediction: Bulls Regain Control as ADA Moves Closer to $1.20

The Cardano price has surged 3% in the last 24 hours to trade at $0.8623 on a 49% pump in the daily trading volume to $1.5 billion.

Cardano (ADA) is moving in a rising wedge pattern with strong support from the charts and market outlook. Traders expect an 86% chance of a 25bps Fed rate cut in September, which would loosen financial conditions and boost demand for assets like ADA.

Upcoming CPI and PPI data will also play a key role in shaping market sentiment. On the technical side, ADA is aiming for $1.16 and $1.40, with a possible move to $1.65 if conditions stay favorable. Powell’s comments on future cuts could drive big reactions, making the coming weeks important for ADA’s next big move.

Cardano Price Analysis: ADA Looks Ready for a Move Toward $1.20

Cardano (ADA) is trading around $0.86 after bouncing from a strong support area. The chart shows ADA is trying to build momentum and could be preparing for another push higher if buyers stay active.

Earlier, ADA climbed close to $1.50 in late 2024 before entering a long bearish channel. The token dropped steadily until March 2025, when it broke out of the downtrend. Since then, the price has been moving sideways but forming higher lows, which is a healthy sign for recovery.

Right now, ADA has built a support zone between $0.75 and $0.80. Buyers have protected this level several times, showing strong interest in holding ADA at that price. After bouncing from this zone, the price is back near $0.90, which is an important short-term resistance.

ADAUSDT Analysis. Source: Tradingview

The Relative Strength Index (RSI) is at 52.88, slightly above neutral. This means momentum is balanced but slowly leaning in favor of the bulls. If the RSI climbs higher with strong trading volume, ADA could see a bigger upward move.

If ADA manages to break above the $0.90 level, the next target would be the $1.10–$1.20 resistance zone. This is where the price got rejected in July. A successful breakout here could open the door for further gains toward $1.30. On the downside, if ADA falls below $0.75, the bullish outlook would weaken, and the price could slip back toward $0.70 or lower.

ADA’s technical setup looks positive as long as the $0.75–$0.80 support holds. Market conditions are also improving for cryptocurrencies, especially with expectations of lower U.S. interest rates. This could provide extra fuel for ADA’s rally.