Cardano Poised for $1.35 Surge if ADA Clears This Critical Barrier

Cardano (ADA) has dropped below the $0.80 mark. While this has raised concerns, experts are optimistic, citing bullish momentum.

A well known analyst has identified the resistance levels ADA needs to clear to reach $1.35.

Key Resistance Levels for Cardano’s Next Breakout

ADA has fallen but analysts see a bullish reversal. Crypto strategist Rose Premium Signals says ADA is forming a falling wedge pattern and may breakout.

• ADA needs to break $0.9837 for trend confirmation.

• If that happens, prices can go to $1.1619 and then $1.3529.

• Failure to do so may lead to consolidation or downmove.

This is in line with the broader sentiment that Cardano will see strong buying if these resistance levels are cleared.

Institutional Investment and ETF Speculations Drive Sentiment

Institutional interest in Cardano is growing and that’s adding to the buying pressure. According to a recent CoinShares report:

• ADA saw $1.9 million inflows last week and $4.4 million over the past month.

• Bitcoin and Ethereum saw outflows of $430 million and $7.2 million respectively.

• Investors are moving into altcoins like Cardano, XRP and Solana.

And with Grayscale’s recent filing for an ADA ETF with the NYSE, speculation about a Cardano ETF is heating up. If approved, an ETF will be a big boost for Cardano’s price and presence.

What’s Next for Cardano Price?

At the moment, Cardano is trading at $0.7719, down 3% and touched a 24 hour high of $0.8269. Volume has increased 37% to $935.33 million and ADA’s RSI is at 42, which is bullish.But Cardano’s futures open interest has dropped 3% to $726.71 million so traders are uncertain. ADA is expected to consolidate between $0.8352 and $0.8568 in the next few weeks.

The next few sessions will be key to see if Cardano can reclaim the resistance levels and go to $1.35. Traders should watch the $0.9837 level—above that and we can see a strong move, below that and we may see consolidation or downmove.