Cardano (ADA) Eyes $0.80 Breakout – Is an 85% Price Surge Imminent?

Cardano's ADA is knocking on the door of a critical resistance level—and this time, it's packing bullish momentum. A clean break could send the altcoin soaring toward $0.80, marking an 85% climb from current levels. But can it dodge the classic 'buy the rumor, sell the news' trap that plagues crypto rallies?

Technical Setup: The Make-or-Break Moment

The charts show ADA retesting a multi-week consolidation pattern. Traders are watching volume closely—any spike could confirm the breakout. Meanwhile, Bitcoin's stability gives altcoins room to run (for now).

Market Psychology: Greed vs. Reality

Retail FOMO is building, but institutional flows remain tepid. The 85% projection isn't just hopium—it's the measured move from ADA's recent range. Just don't tell the 'to the moon' crowd that targets sometimes… miss.

Closing Thought: In a market where 'fundamentals' often mean 'Twitter hype,' Cardano's methodical development approach faces its ultimate stress test. Will this be the rally that finally silences the 'ghost chain' critics—or another entry for the crypto hall of shame?

Cardano Retests Key Resistance

Following last week’s drop to the $0.70 support, Cardano is attempting to break out of a crucial resistance level to continue its rally. The cryptocurrency has surged 8.8% from Friday’s low, retesting the $0.74-$0.76 area throughout this week.

Notably, ADA has been hovering between the $0.65-$0.85 price range since the Q2 market recovery, briefly losing this area during the June pullback. However, the July market pump sent the altcoin to a four-month high of $0.93, sparking bullish sentiment among investors.

Since then, cardano has been in a downtrend, attempting to break out of the descending resistance for the past two weeks. Market watcher Sebastian noted that the cryptocurrency has repeatedly retested the $0.76 zone over the past few days, suggesting that “the more it tests it, the higher the likelihood to break it.”

According to the analyst, ADA must reclaim the 50-day Moving Average (MA), which has served as a strong resistance and support level and coincides with the descending resistance breakout area.

Following today’s performance, the altcoin has reclaimed the 50 MA indicator and eyes a retest of the $0.76 resistance. A breakout from this level WOULD set the stage for a retest of the next crucial area between $0.79 and $0.80. “Getting back above $0.80 would confirm the trend reversal,” Sebastian affirmed.

Meanwhile, a rejection from this area could propel Cardano to retest the recent lows and risk losing its local range again.

ADA Breakout Eyes 85%-120% Rally

Man of Bitcoin noted ADA’s recent performance, asserting that it is “now potentially working on a small 1-2 setup.” Based on this, he suggested that “as long as the price remains above the last swing low at $0.685, wave-5 of iii should follow next.”

Meanwhile, analyst Ali Martinez highlighted that the cryptocurrency has been trading within a descending channel since its December 2024 high of $1.32. According to the chart, ADA retested the channel’s upper boundary for the first time in months during the July breakout but was ultimately rejected.

Reclaiming the $0.76 could propel the altcoin to the channel’s resistance, and “a breakout above $0.84 could set Cardano on a path toward $1.30.”

Additionally, Martinez asserted that “ADA is showing the same price structure as the last cycle, only this time, it’s unfolding more gradually. And it feels like we’re right at the beginning of an explosive move.”

Similarly, crypto Bullet stated that Cardano has been following a pattern over this cycle. Per the chart, the cryptocurrency has been trading down for months before breaking out and reaching new local highs.

Last month, the cryptocurrency broke out of its eight-month downtrend, targeting a rally toward the $1.60 area. Now, ADA is retesting the descending resistance line, which could set up the stage for the 120% jump if the breakout is confirmed.

As of this writing, Cardano is trading at $0.74, a 3% increase in the daily timeframe.