Bitcoin News Today: Cardano Hovers at $0.85 as $1.00 Threshold Looms with High Stakes

Cardano’s ADA token has shown notable price action in recent days, with the cryptocurrency currently trading near $0.85 amid a period of consolidation. Over the past month, ADA has risen by 51%, climbing from $0.572 to $0.87, reflecting growing interest in the altcoin as broader crypto markets remain in a phase of adjustment following Bitcoin’s consolidation around $112,000. Analysts are closely watching key levels, particularly $0.822 and $1.00, which are seen as potential turning points for the asset’s near-term trajectory. A sustained break above $0.91 could signal a bullish phase, with $1.00 and beyond becoming increasingly attainable, while a drop below $0.822 could trigger a retest of lower supports like $0.75 or $0.70 [1].

Short-term market sentiment appears mixed, but the taker buy volume has shown a slight bullish bias, with Coinglass data indicating that 74% of ADA-related accounts were long, and Binance’s top traders also showing a long position majority. This suggests that traders are cautiously optimistic despite the volatile backdrop. However, the risk of a bull trap remains, as the price has been consolidating within a symmetrical triangle pattern. The RSI sits at a neutral level of 50, suggesting that neither buyers nor sellers have decisively taken control, and the market is waiting for a breakout or breakdown to determine the next move [3].

The broader market environment has also played a role in ADA’s recent performance. The SEC’s delayed decision on Grayscale’s proposed spot Cardano ETF until late October has injected some uncertainty, but ADA has remained resilient amid this. Traders have also been shifting capital from Bitcoin into altcoins, especially as expectations of a Federal Reserve interest rate cut in September continue to gain traction. Lower interest rates are historically favorable for altcoins, as they make traditional fixed-income assets less attractive and encourage risk-seeking behavior [1].

Looking ahead, ADA’s path appears to hinge on Bitcoin’s performance. If Bitcoin can maintain a bullish structure and avoid a pullback below $110,000, it could provide the tailwind necessary for Cardano to test its $1.00 level. On the other hand, a prolonged bearish correction in Bitcoin could expose ADA to downward pressure. Technical indicators, including the Awesome Oscillator and On-Balance Volume (OBV), suggest that while momentum is currently subdued, the price has not yet formed a significant lower low, leaving the door open for a bullish continuation [3].

The $1.00 level is particularly significant not only as a psychological barrier but also as a key liquidation point. Coinglass data reveals a high concentration of open positions around this level, making it a magnet for price action. Should ADA break through and hold above this level with strong volume, it could open the door to further gains, potentially reaching $1.20 or $1.36–$1.40, depending on broader market conditions [3]. However, traders are advised to remain cautious and wait for volume-confirmed breakouts before committing to new positions [4].

Source:

[1] Cardano Gains 2%, Shrugs Off ETF Delay (https://www.coindesk.com/markets/2025/08/27/cardano-spikes-on-fed-cut-bets-shrugs-off-etf-delay)

[2] ChatGPT Predicts XRP, Cardano, Dogecoin Prices for 2025 (https://cryptonews.com/news/chatgpt-predicts-the-price-of-xrp-cardano-and-dogecoin-by-the-end-of-2025/)

[3] Cardano nears $1-level after 50% hike – What's next for ... (https://ambcrypto.com/cardano-nears-1-level-after-50-hike-whats-next-for-ada-in-the-coming-weeks/)

[4] ADA Price Prediction: Breakout Toward $1 or Breakdown ... (https://www.cryptotimes.io/2025/08/27/ada-price-prediction-breakout-toward-1-or-breakdown-ahead/)