Will Cardano (ADA) Price Cross $1 in September

As a seasoned researcher who has weathered countless market cycles and witnessed the rise and fall of various digital assets, I find myself increasingly optimistic about Cardano (ADA) reaching the $1 mark in September. My conviction is grounded not only in technical analysis but also in the fundamental strength of the project, as evidenced by the surge in active users on the network.


Investors backing Cardano (ADA) are worried about finding solid support during this volatile period, which has been intensified by the drop in Bitcoin‘s price. Navigating through this bear market turbulence requires determining the best moves to enter at the optimal time when ADA is preparing for its potential rise towards $1.

Cardano Price Poised to Hit $1 In September

The price of Cardano remains above its crucial support level at $0.35, indicating its robust foundation as a smart contracts token. Data from Santiment shows a significant surge in active users on the platform, climbing from around 20,000 on August 22 to about 35,000 on August 27. This swift increase suggests Cardano’s status as a formidable cryptocurrency project. Typically, an uptick in network activity leads to increased demand for ADA, suggesting a possible breakthrough to $1 could occur before September ends.

Will Cardano (ADA) Price Cross $1 in September

In simpler terms, if the Market Value Realized Value (MVRV) metric – which compares the current Cardano price to the average price at which investors bought their coins – is lower than 1, it suggests that investors are currently facing losses on their ADA holdings. However, this doesn’t mean they plan to sell. Instead, they seem content to keep holding and potentially increase their investment in Cardano. When the MVRV ratio falls below 1, it could signal a good opportunity for other investors to buy, with the expectation of selling at a profit later on.

Will Cardano (ADA) Price Cross $1 in September

It appears that whales are unfazed by the decrease in Cardano’s price. As per the distribution chart, addresses with 100 million to 1 billion coins have accumulated approximately 130.5 million ADA from August 22. This group now holds about 7.23% of the total supply. The significant increase in risk-taking behavior, despite the falling price of ADA, suggests a potentially bullish trend ahead.

Will Cardano (ADA) Price Cross $1 in September

ADA Price Technical Analysis As Key Support Holds

Cardano price uptrend depends on the robustness of $0.35 support, which coincides with the ascending channel’s lower boundary. The area also begins a bullish fractal likely to ignite a short-term rally to $0.42.

As I analyze the market trends, I notice that the Relative Strength Index (RSI) for ADA is dipping into the oversold region. This could potentially signal an opportunity for traders to consider buying, especially if we observe a rebound from around $0.35. The RSI’s reversal from the oversold zone adds credence to this possibility.

Will Cardano (ADA) Price Cross $1 in September

Traders need to be prepared to act swiftly if the current downtrend goes beyond the support level of the channel. In such a scenario, some traders might decide to sell ADA as its price falls, while others could choose to purchase it when it reaches the potential supports at $0.32 or $0.3, anticipating another price increase.

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2024-08-28 22:15