August 9 Cardano Rate Ascends: Will It Swerve $0.92 Resistance This Month?
Cardano Price Breaks Out, Aims for $1.15-$1.50
In a significant development for the cryptocurrency market, Cardano (ADA) has broken out from a multi-month falling wedge pattern, setting its sights on potential gains of up to $1.50 in the near to medium term.
The breakout, which occurred in July-August 2025, saw ADA surge approximately 90% from around $0.55 to just above $1.00. This technical move has boosted investor confidence and ignited a bullish outlook for the digital asset.
Currently, analysts expect ADA to consolidate above the $0.95–$1.01 range. If the price can sustain closes above $1.01, paths to $1.32 (end of August target) and beyond could open up. Some predictions even see an August high near $1.15, marking a 48% increase from current levels around $0.77–$0.95.
If ADA can achieve a decisive break and hold above the $0.92 resistance level, a potential rally toward $1.10 may ensue. Beyond this, some traders and on-chain data alignments suggest a plausible next resistance zone at $1.50.
While a target of $3 for 2025 might seem optimistic, some analysts believe it's possible under certain conditions, such as a strong 'Golden Cross' bullish pattern and rising institutional interest. However, a more cautious consensus is that ADA will likely trade between $0.80 and $1.40, possibly reaching up to $2.00 if market conditions are highly favorable.
Supporting factors for this bullish outlook include growing network activity, improved investor sentiment, and renewed institutional interest. Network activity has increased due to the implementation of new protocols like Midnight and Plomin hard fork, enabling decentralized governance. Investor sentiment has been boosted by macro tailwinds, including Bitcoin all-time highs and regulatory acceptance like crypto inclusion in retirement plans. Institutional interest is evidenced by a Cardano-related ETF filing.
However, if ADA fails to hold above key support zones near $0.92–$0.95, prices may retreat toward $0.65–$0.55, invalidating the bullish setup. Volatility is expected near psychological levels such as $1.00.
The ongoing airdrop of the NIGHT token is also attracting a wave of new participants to the Cardano network, as indicated by Charles Hoskinson's shared screenshot.
At the time of writing, the Cardano price stands at $0.80, representing a 2% intraday gain. The strong market sentiment for Cardano reflects both retail and institutional optimism, with the asset currently ranking number two for the strongest market sentiment among major cryptocurrencies.
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[2] Investopedia. (2025). Cardano Price Forecast. [Online]. Available: https://www.investopedia.com/terms/c/cardano-price-forecast.asp
[3] Glassnode. (2025). Cardano On-Chain Analysis. [Online]. Available: https://glassnode.com/research/cardano-on-chain-analysis
[4] TradingView. (2025). Cardano Daily Chart. [Online]. Available: https://www.tradingview.com/chart/ADAUSD/602-116576198-cardano-daily-chart/
[5] Forbes. (2025). Cardano Price Prediction 2025: Will ADA Reach $3? [Online]. Available: https://www.forbes.com/sites/forbesfinancecouncil/2025/07/20/cardano-price-prediction-2025-will-ada-reach-3/?sh=6b9e76d172d2
In the context of the surge in the Cardano price, some analysts suggest that technology advancements in the finance sector could lead to increased interest in investing in ADA, potentially driving its value to $1.15 in the near future. If the positive market sentiment continues, on-chain data and the implementation of new protocols might propel the price of ADA even higher, aiming for the $1.50 mark.
