Cardano price has been moving mostly sideways lately, trading in a tight range between $0.82 and $0.87 over the past week. While many ADA holders are hoping for a breakout toward the $1 mark, analyst Ali Martinez has issued a cautious warning.
According to him, the chart signals that ADA could first dip toward $0.80 before attempting a serious rally. This isn’t necessarily bad news, though. Martinez points out that short-term pullbacks are often part of a healthy setup before a bigger move higher.
With ADA price showing a classic technical structure on the chart, traders are watching closely to see if $0.80 can hold as a springboard for the next run.
What you'll learn 👉
Cardano Chart Analysis
On the daily chart, ADA price has been forming a falling wedge, a bullish reversal pattern that usually appears after an extended downtrend. The price action has been compressing between lower highs and lower lows, creating pressure that builds until a breakout occurs.
Martinez highlights that ADA’s wedge is nearing the critical stage. However, before the breakout can happen, ADA may need to retest the lower boundary of the wedge, sitting just above $0.80. That dip would shake out weak hands and confirm the zone as strong support.
If history is any guide, falling wedges tend to resolve upward. For ADA, that means the current sideways chop could be the calm before a push higher.
ADA Price Breakout Potential If Bulls Step In
If ADA holds the $0.80 level and buyers regain control, the wedge breakout could drive a rally toward $0.90 and possibly $1.00. Breaking $1 has been a psychological target for the Cardano community for months, and achieving it would likely fuel fresh momentum.
Still, it won’t be easy. $0.88 and $0.92 remain heavy resistance zones that ADA must flip into support. Beyond that, the $1.00 level stands as a key barrier where many traders are likely to take profits.
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Cardano Short-Term Outlook
So where does this leave ADA holders? The short-term outlook suggests patience is key. A dip to $0.80 could easily happen in the coming days, but that doesn’t spell disaster. Instead, it may be the retest Cardano needs before a stronger recovery begins.
If ADA price breaks below $0.80 and fails to recover, the next support sits around $0.76. But if the wedge breakout plays out as expected, ADA could be trading closer to $1.00 before the end of September.
For now, traders will keep watching the $0.80 support level. Whether ADA bounces or breaks here will likely decide its path for the rest of the month.
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