ADA price breaks out as volatility climbs | Credit: Hameem Sarwar
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Key Takeaways
ADA’s price jumped 5.93% in the last 24 hours, breaking out of a descending channel.
Indicators and a breakout from a cup-and-handle pattern suggest renewed buying strength.
If Cardano defends support at $0.76, the altcoin could rally toward $0.95 in the short term.
Cardano (ADA) price has turned the page on September’s weakness. With the first day of October here, the altcoin has registered a 5.93% increase in the last 24 hours.
The move comes after a month dominated by consolidation. So, what’s next for the altcoin?
However, as October began, ADA broke above the channel’s upper trendline, marking a notable shift in momentum.
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According to CCN’s findings, this reversal was driven by rising buying pressure, a trend now clearly evident in key indicators.
At press time, the Chaikin Money Flow (CMF) had flipped above the zero line, signaling that capital inflows outweigh outflows.
Adding to the strength of this move, the Moving Average Convergence Divergence (MACD) has formed a bullish crossover, reinforcing the idea that momentum has tilted in favor of buyers.
If this trend holds, ADA’s price could soon retest the resistance at $0.88. However, for that move to gain strength, the altcoin must first defend support at $0.76.
If buyers successfully protect this level, Cardano would have the momentum to break through overhead resistance. In that case, ADA could extend its rally toward the next key barrier at $0.95.
Amid this breakout attempt, ADA’s price volatility has climbed to 0.015. Rising volatility signals that traders are becoming more active, with notable price swings likely ahead.
In this case, the uptick suggests that Cardano’s market is heating up, with bulls and bears battling for control. If momentum tilts bullish, higher volatility could fuel a quick breakout toward the $1 psychological zone.
However, the same volatility could accelerate a more substantial pullback if selling pressure outpaces the buying volume.
On the daily chart, Cardano’s price has broken above its cup-and-handle pattern—a formation widely viewed as a bullish continuation signal.
This breakout confirms that buyers have seized control after weeks of consolidation, hinting at the beginning of a stronger upward push.
If ADA maintains momentum above the neckline, the pattern points to further upside potential, leaving room for the token to challenge key resistance zones.
Furthermore, the Awesome Oscillator (AO) has flipped green, printing consecutive histogram bars. This suggests that bullish momentum is strengthening, further reinforcing the breakout narrative.
Once buying pressure increases, the cryptocurrency’s value might surge to $1.05.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
