Cardano Price Analysis: Buy Signal Appears, But Will ADA Finally Hit $1 in September?

Cardano’s ADA has been moving mostly sideways over the past seven days, stuck in a narrow range between $0.82 and $0.87. Buyers have managed to defend the lower end of this range, while sellers continue to cap any breakouts above $0.87. This consolidation comes after ADA briefly touched $1.01 in August, only to lose momentum and slide lower. The big question now is whether September will finally bring a breakout toward $1.

What the ADA Chart Is Showing

The 4-hour chart on CoinAnk shows ADA holding steady after weeks of choppy movement. Price support has built around $0.82, while the $0.87 zone is acting as near-term resistance.

Source: CoinAnk

Open interest is sitting around $292 million, showing that traders are participating but not yet going all-in on either side. Net longs are still weak at -147 million, while net shorts remain high at 1.45 billion. This imbalance highlights that bearish bets continue to dominate, though ADA’s ability to hold its ground suggests short-sellers aren’t fully in control.

Momentum indicators are starting to improve. The MACD histogram has flipped green, while the MACD line is crossing above the signal line. This usually points to a potential trend reversal, but it needs follow-through volume before confirming a stronger bullish move.

Ali Martinez Highlights a Buy Signal

Well-known analyst Ali Martinez added more optimism with his latest chart. He pointed out that ADA has flashed a buy signal on the TD Sequential indicator. This tool is widely used in technical analysis to spot potential reversal points. It works by counting a sequence of candles in up or down trends. When the sequence completes, it often suggests that the current trend is exhausted, making way for a reversal.

In ADA’s case, the TD Sequential is showing that its recent downtrend may be running out of steam. According to Martinez, this could set the stage for a bounce that targets higher levels in the days ahead.

Could ADA Price Break $1 in September?

The ingredients for a breakout are on the table. With shorts heavily loaded, any sudden surge in buying could trigger a short squeeze that accelerates gains. A break above $0.87 would be the first sign of strength, opening the path toward $0.95 and then the key $1 mark.

On the other hand, if ADA fails to hold above $0.82, the next line of support lies near $0.76. That would delay any hopes of a September breakout and keep ADA stuck in a wider consolidation.

Overall, ADA remains one of the more closely watched altcoins as it consolidates near a crucial level. With the MACD showing signs of life and the TD Sequential flashing a buy, bulls still have a fighting chance. If momentum lines up, September could finally be the month ADA makes another run at $1.

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Petar Jovanović
Petar Jovanović

As the Head of Content at Captainaltcoin, I bring years of experience in the crypto industry. With a strong belief in the potential of the web3 market since 2017, I'm passionate about sharing valuable insights and knowledge. Feel free to connect with me on LinkedIn and let's discuss the exciting world of cryptocurrencies and decentralized technologies!

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