Cardano price is holding above $0.90 support after a $1 rejection, eyeing reversal confirmation via a higher low as futures volume hits a 5-month high.
Summary
- Cardano price was recently rejected at $1 but remains in an uptrend, forming higher highs and higher lows. The next higher low may develop between $0.86 and $0.90, potentially confirming a bullish reversal.
- Cardano futures volume hit a five-month high, reinforcing the bullish outlook and the potential for a rally toward $1.50.
Cardano price analysis
After testing the key $1 resistance on August 14, Cardano (ADA) price faced a sharp rejection, leaving behind a long upper wick on the daily chart. Since then, Cardano price has been consolidating above the $0.90 support. Momentum indicators suggest fading strength: the RSI, though still holding at 62 on the daily, has begun trending downward, while the MACD shows signs of bullish momentum cooling. The price is also hovering just ~1% above the 7-day EMA, teetering dangerously close to a potential breakdown below it.
Even so, the broader uptrend remains intact. Cardano price has formed a series of higher highs and higher lows since its $0.51 base — the second double bottom in a prior double-bottom formation, which broke out at the $0.86 neckline.
In the near term, Cardano price may test the $0.86–$0.90 support zone, which aligns with the ascending trendline of the current uptrend. A strong bounce from this level on rising volume would confirm a higher low, keeping bulls in control and setting the stage for a retest of $1, with the potential to reach $1.10–$1.15 on the next higher high.
Cardano futures at 5-months high
If the uptrend structure continues, Cardano price could extend its rally toward the $1.50 region in the coming weeks, according to crypto analyst Ali Martinez.
Supporting the bullish outlook, Cardano futures volume has surged to $6.96 billion — its highest in five months — signaling increased participation from derivatives traders. Historically, rising futures activity often precedes stronger spot price moves, suggesting the current pullback could be an ideal “buy the dip” opportunity ahead of a major Cardano rally.
