Cardano Holds $0.85 as Traders Await Breakout: Could September’s Rate Cut Spark a Run Toward $3?

Cardano (ADA) continues to hold firm at the $0.85 support level, despite recent volatility and mixed technical ￰0￱ Reading: XRP Whales Unload Massive Bags: Distribution Or Trap? The altcoin has been consolidating within a tight range, with traders closely watching the $0.95 resistance zone. A breakout above this level could pave the way for ADA to retest $1, while failure to maintain support risks a deeper pullback toward $0.80. Over the past week, ADA’s price has hovered between $0.82 and $0.87, reflecting cautious market sentiment.

ADA's price trends to the upside on the daily chart.) recently postponed its decision on Grayscale’s Cardano ETF until October 26, adding regulatory ￰1￱ argue that while an ETF approval could fuel institutional inflows, delays may weigh on investor confidence in the short ￰2￱ a September Rate Cut Ignite a Cardano Rally Toward $3? Macroeconomic catalysts could play a decisive role in ADA’s next ￰3￱ is mounting that the ￰4￱ Reserve will cut interest rates in September. Historically, rate cuts have provided a boost to risk assets, including ￰5￱ reports suggest a potential Fed rate cut could help ADA reclaim the $1 mark and even fuel a rally toward $3, echoing its explosive 2020 ￰6￱ Cardano already up 4% in August, a favorable macro shift may accelerate bullish ￰7￱ Reading: XRP’s Biggest Doubter Just Dropped Close To $5 Price Bomb — Here’s Why If bulls defend the $0.85 support and break past $0.95 resistance, the path toward $1 and beyond could open.

However, a failure to hold support risks a drop below $0.80, leaving traders on edge as September’s rate decision ￰8￱ image from ChatGPT, ADAUSD chart from Tradingview