Cardano Price Prediction: Will ADA Breakout Above Key Support?

The cryptocurrency market experienced a strong start to October, with Bitcoin reaching a new all-time high above $126,000. This bullish momentum impacted altcoins like Cardano (ADA), which bounced off support near $0.85 following a brief pullback. Analysis of the ADA/USD 1-day chart suggests this support aligns closely with the 50-day Simple Moving Average (SMA) at $0.853, indicating solid buying interest. The chart shows ADA holding above both the 50-day and 200-day SMAs — a positive technical sign. The 200-day SMA sits near $0.74, providing a medium-term safety net that has helped prevent deeper corrections since July.