Ethereum News Today: ADA Shows Bullish Signs as Price Hovers Near $0.80 Support

Cardano’s ADA price has shown signs of a potential bullish continuation, mirroring patterns observed in previous market cycles. The asset has been consolidating near the $0.80 level, with recent resilience allowing it to bounce off key support at $0.77 and retest prior highs. This behavior has led analysts to draw comparisons with the setup seen before prior bullish movements, suggesting ADA may be preparing for a renewed push toward $0.80, a level considered critical for sustaining upward momentum [1].

Technical analysis highlights that ADA’s current price pattern closely resembles the conditions preceding its last major rally. The 0.5 Fibonacci retracement level at $0.85 has been repeatedly tested, with the token dipping below this threshold before recovering without breaking into a downward trend. Analyst Ali Martinez notes that while the current development is unfolding more gradually, the structural similarities remain evident [1].

If ADA manages to surpass $0.85, traders should monitor three key resistance levels: $1.15, $1.74, and $3.00—each of which has historically served as a barrier to the asset’s price advances [1]. A break above these levels could signal the start of a more substantial rally, with a Fibonacci extension analysis projecting a theoretical long-term target of $6.25, assuming similar conditions to the last bull cycle [1].

However, current market dynamics differ from those during Cardano’s previous breakout. Trading volume remains below historical averages, and ADA has not attracted the same level of attention as other digital assets recently. These factors may prolong the timeline for a potential upward move [1]. Additionally, while the token has maintained stability near its consolidation range, prolonged stagnation below $0.85 could invalidate the bullish pattern [1].

On the flip side, a successful breakout above $0.81 could restore bullish momentum toward the $0.90–$0.97 range [1]. The Relative Strength Index (RSI) remains neutral, indicating that the market is in a consolidation phase rather than an oversold state. This suggests that traders should remain cautious until more decisive price action emerges [1].

Long-term projections for ADA remain optimistic, with some analysts suggesting a target of $6 in the next macro cycle. These estimates are based on a bullish cup-and-handle pattern, which, if confirmed, could open the door for a multi-month upward trajectory [4]. However, it is important to note that such forecasts are speculative and depend on broader market conditions and regulatory developments [1].

Ecosystem updates also support a bullish outlook for Cardano. Ongoing developments in the Leios scalability upgrades, BTC DeFi integration, and partnerchains are expected to enhance adoption and utility for the asset. Despite a short-term correction—with ADA dropping 10% this week—analysts remain confident in the long-term potential of the project [1].

In the broader market context, Ethereum’s recent strength has fueled speculation about a potential altcoin rally, with ADA positioned to benefit from increased capital rotation. Ethereum has taken center stage as a gateway to this potential bull phase, offering further tailwinds for Cardano [5].

In conclusion, while ADA’s price action remains within a defined range, the structural similarities to past bull cycles suggest that the asset could be entering a new phase of its market cycle. Traders and investors are advised to closely monitor key levels and volume patterns, as these will provide critical signals about the direction of the next move.

Source:

[1] ETHNews - Cardano’s Current Pattern Echoes Past Bull Run With Higher Targets

https://coinmarketcap.com/community/articles/688d5d07f657cc5b3b857899/

[4] Cardano - ADA Targets $4 on Bullish Cup and Handle Pattern

https://cardanofeed.com/ada-cup-handle-pattern-4-dollar-target-298

[5] The - Ethereum Takes the Lead in Capital Rotation. What's Next?

https://www.cryptotimes.io/2025/08/01/ethereum-takes-the-lead-in-capital-rotation-whats-next/