Cardano Price Consolidates at $0.85, Eyes $1.32–$1.80
Cardano price is holding key Fibonacci support at $0.85 while consolidating near $0.81. A decisive close above $0.94 would confirm a bullish wedge breakout and open targets at $1.32 and $1.80. Cardano price traders should note the descending-wedge pattern and oversold Stoch RSI reading around 3.14, both signaling potential upside. ETF optimism is rising after Grayscale’s amended S-1 filing lifted approval odds to roughly 87%, suggesting increased institutional demand for ADA. Short-term entries could be considered near $0.79–$0.81 with stops below $0.75. A confirmed break above $0.94, supported by volume, would mark a clear trigger for a rally toward the $1.32 and $1.80 levels. Traders should combine technical signals with risk management and monitor SEC developments for further catalysts.
Bullish
The article highlights a bullish technical setup for Cardano price, anchored by a descending-wedge pattern and strong Fibonacci support at $0.85. A close above $0.94 would confirm the breakout, opening gains toward $1.32 and $1.80. Historically, similar wedge formations—such as Bitcoin’s pre-ETF breakout phases—led to substantial rallies once confirmation levels were breached. ETF optimism from Grayscale’s amended S-1 filing, with approval odds up to 87%, adds an institutional demand catalyst not unlike the effect seen in Bitcoin and Ethereum when their ETF prospects improved. In the short term, traders may see a sharp move if momentum indicators and volume align. Over the longer term, institutional inflows via an ADA ETF could sustain upward pressure, improving liquidity and reducing volatility.