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Will Cardano Skyrocket? Hoskinson Predicts a Massive Impact as ADA Clings to $0.90 Support!
In the latest ada news, Charles Hoskinson has boldly stated that Cardano (ADA) is poised to take center stage in the cryptocurrency market. As the altcoin strives to maintain a crucial support level, analysts are increasingly optimistic about an imminent price rally.
Following a market surge on Thursday, Cardano’s price has retraced approximately 4% in the past 24 hours. This marks a second unsuccessful attempt to reclaim the range high within the week. Since July, ADA has been trading within a range of $0.72 to $0.96, peaking at a local high of $1.01 last month. Despite these fluctuations, ADA has managed to uphold the $0.85 to $0.90 zone as a support area, creating a sense of stability heading into the weekend.
Analyst Sebastian warns that Cardano needs to establish a new higher high soon. “Otherwise, we could find ourselves in a head and shoulders pattern, which could lead to a significant retracement,” he noted. Importantly, Cardano has been trading above an ascending support trendline since early August, bouncing off this key level twice this month. As long as ADA holds above this trendline, the bullish sentiment is expected to persist. However, a breakdown could see the altcoin fall back to a macro support zone between $0.50 and $0.60.
Market analyst Altcoin Gordon also highlighted that ADA recently broke a multi-month descending resistance level after reclaiming the $0.85 mark last week. Since then, the cryptocurrency has successfully retested the trendline area as support, confirming the breakout. Gordon emphasizes that if ADA continues to hold this level, we could witness “a HUGE move to the upside.”
Q4 Seasonality: A Catalyst for Cardano’s Rally?
Meanwhile, analyst Crypto Kid has pointed out the potential for Q4 seasonality to play a significant role in ADA’s performance. He noted that Cardano broke out of a nine-month downtrend during the November 2024 run, surging 270% to reach a three-year high of $1.32. “I’m betting on ADA repeating its history by breaking out in October or November this year,” he asserted.
Adding to the excitement, Hoskinson has shared a provocative outlook, stating Cardano is “going to break the internet.” Although he offered no further details, many in the community believe that the growing momentum around crypto-based Exchange-Traded Funds (ETFs) could serve as a key driver for ADA’s rally.
On Friday, Grayscale Investments launched the Grayscale CoinDesk Crypto 5 ETF (GDLC), marking the first multi-asset crypto ETF in the U.S. This investment product includes the five largest cryptocurrencies: Bitcoin, Ether, XRP, Solana, and Cardano. The Securities and Exchange Commission (SEC) recently approved Grayscale’s request to convert its Digital Large Cap Fund into an ETF, raising hopes for a spot ADA ETF approval as well.
According to data from Polymarket, the chances of SEC approval for the ADA ETF in 2025 have surged from 79% to 91%. Notably, the SEC delayed its decision on Grayscale’s spot Cardano ETF until October 26, 2025. Many analysts speculate that most spot crypto ETFs could receive approval at the beginning of Q4, potentially igniting a “spicy end-of-year” for various altcoins, including ADA.
As of now, Cardano is trading at $0.89, reflecting a 1% decline on the weekly chart. For those looking to stay updated on ADA and other cryptocurrencies, consider visiting relevant text. Additionally, you can explore trading options on platforms like relevant text.
In conclusion, with Charles Hoskinson’s ambitious predictions and favorable market signals, Cardano seems well-positioned for a potential breakout. Whether ADA can maintain its support level and capitalize on upcoming trends remains to be seen, but the excitement surrounding its future is palpable.
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