Cardano Maintains $0.85 Support Amid Mixed Market Signals

Cardano (ADA) remains stable at the $0.85 support level amid market volatility and mixed technical signals.

ADA is consolidating within a range, with attention on the $0.95 resistance zone.
A breakout above $0.95 may lead to a retest of $1; failure to maintain support could see prices drop towards $0.80.
Recent price movements have fluctuated between $0.82 and $0.87, indicating cautious sentiment.
Technical indicators display mixed signals: RSI at 52 suggests neutral momentum; MACD indicates bearish divergence.
Experts are divided on ADA's near-term outlook: some predict a rise towards $0.95 or $1.05–$1.10 by month-end, while others foresee a decline to $0.50 if key levels fail to hold.
Institutional interest is influenced by the SEC's delayed decision on Grayscale’s Cardano ETF until October 26, which introduces regulatory uncertainty.
A potential U.S. Federal Reserve rate cut in September could positively impact risk assets like ADA.

If ADA maintains the $0.85 support and surpasses $0.95, it could rise towards $1. However, a drop below $0.80 remains a risk as the Fed's decision approaches.

Cardano ADA Chart