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3h ago

Cardano Nears $0.94 as Coinbase Reserves Jump and Breakout Zone Draws Focus

Analysts say a strong daily close over $0.94 would confirm a break from months of consolidation.

Cardano eyes $1.3 as ETF decision looms large - But here’s the catch!

Overview

  • ADA is trading near the mid‑$0.80s after reclaiming its 50‑day moving average, putting $0.94 and then $1.00 in view if buy volume builds.
  • Coinbase’s reported ADA reserves rose roughly 462% to about 9.56 million tokens, alongside rapid growth in wrapped ADA on Base.
  • Traders flag a resistance band from roughly $0.95–$1.02 as the validation zone, with calls for expanding volume and firm daily closes to confirm trend change.
  • Support is defined in the $0.83–$0.85 area with a deeper cushion near $0.80, while a failed break could expose a retest toward about $0.75.
  • Scenario targets discussed by analysts range from near‑term moves to $1.06–$1.12 and $1.30–$1.90 on confirmation, with some tying setups to ETF‑related positioning later in October.