The price of Cardano (ADA) has gained renewed attention after reclaiming a key support zone around $0.78 with strong trading volume. Analysts believe there may be a breakout towards $1.19 with momentum above $0.88.
Cardano Price Reclaimed $0.78
ADA price rebounded from the $0.74–$0.77 zone after weeks of sideways consolidation. This level has acted as strong resistance previously and is now serving as solid support. The new rally has shown increasing volume and consistent closing prices above $0.77, indicating the start of a new bull cycle. According to chartist Tom Tucker, ADA’s reclaim of $0.77 has re-establish the structure after the July pullback.
Analysts Track Breakout Setup Above $0.88 Resistance
Analysts believe the price structure resembles the pre-rally setup of 2021. Dan Gambardello indicated that the $0.88 level serves as the last line of resistance before a possible bullish rally. In his view, Cardano price must close above $0.88 with strong spot interest to trigger a rally beyond $1.50.
Charles Hoskinson Defends Cardano’s Value Against Bitcoin
In a recent interview with Jason Yanowitz, Charles Hoskinson reaffirmed his viewpoint that Cardano has superior fundamentals compared to Bitcoin. He referred to Cardano as a more enhanced platform focused on scalability and real-world adoption. Hoskinson also discussed the growing presence of Cardano in Asia and Africa, where the network’s decentralized model is gaining popularity.
The visible growth trends in Cardano's price, coupled with its value defense against Bitcoin, highlight the potential of this cryptocurrency. As the network continues to upgrade and on-chain activity increases, fundamental factors may start to significantly influence Cardano's price performance.
