Cardano Eyes $0.29 in October as Petrobras Deal Adds to News Flow

The Cardano price prediction for October 2026 remains bullish, with a target of $0.29. However, the price needs to hold above $0.24, the level of the 200-day EMA in late September. The current price of $0.2536 is up 2.85% today, but it has yet to clear the 0.786 Fibonacci level at $0.2564. If it does, the channel top near $0.28 and the $0.2886 May high will be in view.

The MACD still sits above its signal line, but the gap has narrowed, indicating a cooling momentum behind the September push. A daily close above $0.2564 would be a crucial milestone, but whale selling and falling open interest do not favor a quick move. The Cardano Foundation's recent collaboration with Petrobras may also impact the price, but the release mentions nothing about demand for ADA.

According to Ali Charts, large holders have sold about 90 million ADA, worth roughly $22.5 million, since September 20. Futures open interest fell 9% over the past week, from $1.99 billion to $1.81 billion. LuckSide Crypto also notes a golden cross, but it is no guarantee, and the exponential averages on the chart still show the 50-day at $0.2193 below the 200-day at $0.2400.

In a bullish scenario, ADA could extend towards $0.2886 in October if it holds above $0.24 and clears the 0.786 Fibonacci level at $0.2564. However, losing $0.24 risks a slide towards $0.2134. Reaching $0.30 or $1 in October is unlikely, as the highest level in view is the May high.