ADA recently broke out of a falling wedge, a classic bullish reversal pattern, and has been holding strong above it. The coin had a rough couple of weeks, dragged down by low Cardano price prediction calls from experts and the chatter about insider trading rumors tied to founder Charles Hoskinson.
Momentum shifted after Grayscale added ADA to its Multi-Crypto ETF, which holds just five coins: Bitcoin, Ether, XRP, Solana, and ADA. On top of that, the Grayscale Digital Large Cap Fund (GDLC) officially went live, adding accessibility for the coin in traditional markets. This comes just a month before the standalone Grayscale ADA ETF application, where approval odds now sit at 89 percent.
The events have pushed Cardano price queries through the roof on Google, with searches like “ADA price today,” “ADA/USD,” and “Cardano price” spiking around 130 to 140 percent. Retail curiosity is clearly rising fast.
Over the weekend Bitcoin broke down under 115K and it dragged the whole market with it, including Cardano which dropped 7 percent in the last 24 hours. ADA is now testing a huge buy wall and crucial support at $0.80. The setup is simple: a rejection and breakdown under this level would likely send price back to the $0.50 support, a critical zone marked as the bulls’ safety net.
The RSI is sitting around 36, showing ADA is nearing oversold territory, which often signals a potential bounce. At the same time, the MACD remains in negative territory, hinting that bearish pressure hasn’t fully faded yet.
This bearish scenario plays out if ADA closes under $0.80 and the broader market fails to recover. However, with RSI already oversold, a short-term bounce looks likely, and traders are eyeing the $1.32 resistance level as the next test.
In the last cycle ADA topped at $3.00. A 300 percent move up from here would break that level. For that to happen, ADA needs to build on its breakout from the falling wedge, one of the strongest reversal setups. If it can hold above the breakout trendline and flip $1.32 into support, momentum could accelerate quickly with $3 as the first major upside target, both psychologically and technically.
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The post Cardano Price Prediction: ADA Holds Crucial $0.80 Support – Here’s Why it Could Rally 300% Soon appeared first on Cryptonews.
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