Cardano Price to Reach $0.27 if Resistance Zone is Cleared

The Cardano (ADA) price has recovered from its mid-September lows of around $0.193 to reach a peak near $0.26. However, it failed to sustain the move and is currently trading at around $0.245, just above the $0.24 support and below the $0.25-$0.26 resistance band. The broader crypto market is also showing a similar trend, with the total crypto market cap up 0.77% and Bitcoin up 0.55% in 24 hours.

The Cardano RealFi platform, which went live on the Cardano mainnet on October 1, offers yields of up to 9% per annum on stablecoins. Although this could bring new capital into the Cardano DeFi ecosystem, its direct impact on ADA demand may be limited since the platform primarily uses stablecoins.

For this week, the Cardano price is expected to be driven by the $0.24 and $0.26 levels. If ADA breaks the $0.258-$0.263 resistance zone, the price could move toward $0.27. A failure to clear $0.26 could keep ADA between $0.24 and $0.258.