Cardano (ADA) has seen a notable surge at the start of August, climbing steadily from $0.6842 to near $0.8141 in just over a week. This rally is attributed to DeFi expansion and increased institutional interest. The price action now displays a clear pattern of higher lows, suggesting momentum remains strong. 77 USD stands out as key support level, having acted as resistance earlier this week. If held, bulls will have a strong position to sustain the rise. Below $0.77, $0.68 is the crucial defense for August. Above this, $0.84 represents the next major hurdle – a level previously encountered in late July but ultimately rejected, now opening up possibilities for further upside towards $0.90 or even $1.00 if momentum continues. 7. 5. Trading volume has been rising since August 6th, confirming that this rally is not just a fleeting rebound. Open interest stands at around $294 million, indicating fresh money entering the market and supporting the upward trend. The increasing open interest aligns with price movement, further strengthening the bullish narrative. Short-interest remains at about $731 million but has not seen aggressive increases – this may signal short covering could be a catalyst for continued gains. Cardano’s price prediction for August suggests potential upside beyond $0.90 to $0.95 if market sentiment and Bitcoin stay stable. A test of the $1.00 mark also cannot be ruled out, but if ADA loses support at $0.77, a downward correction towards $0.72 could occur, with $0.68 representing a potential bottom.