Cardano (ADA) Price Retests $0.76 Resistance After 8.8% Weekly Surge

Cardano (ADA) has recently regained momentum after dropping to a local low of $0.70, retesting a key resistance zone between $0.74 and $0.76. Analysts suggest that the cryptocurrency is positioning itself for a potential breakout that could lead to a significant price increase. The price has surged 8.8% from its Friday low, and ADA is currently hovering within its traditional $0.65–$0.85 range, a level it has occupied since the second-quarter market recovery [1].

Sebastian, a noted market watcher, has observed that ADA has repeatedly tested the $0.76 level over the past few days. He argues that the more the price tests this area, the higher the likelihood of a successful breakout. A critical milestone for Cardano would be reclaiming the 50-day Moving Average (MA), which has functioned as both a resistance and support level [1]. As of the latest market data, ADA has already reclaimed the 50 MA and is currently targeting a retest of the $0.76 resistance. A confirmed breakout above this level could lead to a retest of the $0.79–$0.80 price range [1].

Man of Bitcoin has noted ADA’s recent price behavior and described it as potentially forming a small 1-2 setup. According to his analysis, as long as the price remains above the last swing low at $0.685, the next wave (wave-5 of iii) is expected to follow [1]. Meanwhile, analyst Ali Martinez highlighted that Cardano has been trading within a descending channel since its peak of $1.32 in December 2024. He pointed out that the recent July breakout marked the first time in months that ADA tested the upper boundary of the channel, although it ultimately failed to break through [1].

Martinez added that if ADA can reclaim the $0.76 level, it could potentially reach the channel’s upper resistance at $0.84, which could set the stage for a move toward $1.30 [1]. He also noted that ADA is displaying a similar price structure to previous cycles but at a slower pace. “It feels like we’re right at the beginning of an explosive move,” he stated [1]. Similarly, Crypto Bullet emphasized that Cardano has followed a consistent pattern over the current market cycle—trading lower for months before breaking out and reaching new local highs [1].

Cardano’s recent breakout from an eight-month downtrend last month targeted a rally toward the $1.60 area. If ADA confirms a breakout above the current resistance, it could potentially trigger an 85% to 120% price increase, according to the analysts. As of the latest data, ADA is trading at $0.74, marking a 3% increase in the daily timeframe [1].

Source: [1] Cardano (ADA) Targets $0.80 As Price Retests Key Level – Is An 85% Jump Ahead? (https://www.newsbtc.com/news/cardano-ada-targets-0-80-is-an-85-jump-ahead/)