Saad Ullah
Cardano is having a rough patch right now, but that might be exactly what sets up the next big move. Trading at $0.829, ADA looks vulnerable to more downside in the coming weeks.
Current Market Position
Yet traders like Sssebi are betting this weakness is temporary - the real action could start in mid-October and run straight through the holidays.
The charts don't lie - Cardano's trending lower and could easily test the $0.70-0.75 zone that's been a reliable support level before. This area has historically been where smart money steps in, so it's the key level everyone's watching. If buyers show up there like they have in the past, we could see the whole narrative flip.
The October Turnaround Theory
Here's where it gets interesting. The bearish pressure we're seeing now might only last until mid-October. From there, Cardano could start a recovery that pushes toward $1.00 through November. If the momentum really builds, ADA might even take a shot at breaking its all-time high during the Christmas season - exactly when crypto markets tend to get euphoric.
The fundamentals backing this potential move include:
- Cardano's ecosystem keeps growing with new dApps and partnerships coming online
- Global risk appetite is slowly improving, which typically brings money back into altcoins
- ETF speculation is building for 2025, lifting expectations across the entire crypto space
- Holiday season historically brings retail FOMO that can drive explosive moves
Saad Ullah
