Solana News Today: ADA Price Tests $0.90 Support as Futures Volume Hits 5-Month High

Cardano’s (ADA) price has dropped 3.5% to the critical support level of $0.90–$0.91, marking a pivotal moment for the asset following four days of sideways movement. This decline has been accompanied by a significant surge in market activity, with futures trading volume reaching a five-month high of $6.96 billion, signaling heightened participation from both retail and institutional investors [1]. The price now rests near the lower boundary of its recent consolidation range, historically a level where ADA has shown a tendency to bounce [1].

Technical indicators suggest a mixed outlook. The TD Sequential indicator is flashing a buy signal on hourly charts, indicating a potential for a short-term price bounce. However, confirmation will require ADA to reclaim the $0.92–$0.94 resistance band [1]. The Supertrend indicator remains green and above the price, supporting the continuation of the broader uptrend despite the recent consolidation [1].

On the downside, a daily close below $0.90 could trigger further losses, potentially pushing the price to $0.835, a 6.65% decline from the current level [1]. Conversely, a successful defense of the $0.90 support could set the stage for a retest of the upper boundary at $0.969, with analysts projecting a potential 28% price increase if ADA breaks through this resistance [1]. The $1.00 level remains a key psychological hurdle, with measured move targets in the $1.08–$1.10 range if the price clears this level decisively [1].

On-chain data reveals that $25.94 million of ADA has moved out of exchanges over the past 24 hours, suggesting accumulation by long-term holders [1]. This outflow may help alleviate downside pressure and support renewed buying momentum. South Korea has also emerged as a key player in ADA’s market dynamics, with the ADA/KRW trading pair surpassing Coinbase’s ADA/USD market in volume by nearly 2x, becoming the third largest globally [1].

Despite the recent 5.91% daily drop, ADA remains in a bullish weekly trend, with a 11.4% gain reported for the week [4]. The ADI (Aroon Down Indicator) supports the continuation of this uptrend, indicating that the overall market structure remains favorable [4]. Analysts remain cautious but optimistic, noting that the current consolidation period is "healthy," allowing ADA to absorb prior gains while maintaining structural support [1].

While the market awaits a decisive move, the price action in the coming days will likely be determined by ADA’s ability to either defend the $0.90 support or break through the $1.00 resistance. A breakout above the $1 level could open the door to further gains, with some optimistic forecasts suggesting potential price targets as high as $1.15 and beyond, driven by rising investor sentiment and speculative activity [2].

ADA’s performance is also being influenced by broader market dynamics, including the general altcoin season and the performance of other major assets like Solana (SOL) [9]. The token’s recent behavior has been characterized by tight price ranges and fluctuating volume, leading to cautious optimism among traders. While there are no immediate signs of a breakdown, the market remains in a holding pattern as investors await a decisive move [5].

Source:

[1] Cardano (ADA) Price: Testing Critical $0.90 Support Level as Trading Volume Surges – https://blockonomi.com/cardano-ada-price-testing-critical-0-90-support-level-as-trading-volume-surges/

[2] Cardano price prediction: ADA trades at critical $0.90 support with futures volume hitting 5-month highs while technical patterns suggest potential breakout – https://coincentral.com/cardano-ada-price-prediction-trading-volume-surges-as-token-tests-key-support-levels/

[4] Also, the ADI is in the buying territory and supports an uptrend. According to CoinMarketCap, the Cardano price has increased by 11.4% on the weekly chart – https://www.mitrade.com/insights/news/live-news/article-3-1050978-20250819

[5] Price action is tightening between support near the $0.85 to $0.88 range and resistance around $0.95 to $0.98, with volume steadily declining – https://bravenewcoin.com/insights/cardano-price-prediction-ada-eyes-breakout-as-1-15-resistance-becomes-make-or-break

[9] Cardano (ADA) Price: Testing Critical $0.90 Support Level as Trading Volume Surges ... Solana (SOL) Price: Daily Volume Reaches $5.84B Despite 6% Price Correction – https://blockonomi.com/pi-coin-pi-price-token-breaks-through-0-362-support-as-bearish-pressure-builds/