Cardano Targets $0.28 After Recent Rally

Cardano (ADA) reached $0.2768 on Oct. 5 before pulling back to $0.269, remaining above its recent trading range. Analysts on X identified $0.275, $0.28 as the next resistance area, with $0.264 as a potential pullback level. The daily money flow remained positive, and ADA traded above its 20-day, 50-day, 100-day, and 200-day simple moving averages.

Alex Marzell highlighted ADA’s breakout from a range between $0.242 and $0.247, noting that a single hourly candle had gained 6% on roughly 20 times the range’s normal volume. He identified $0.275 as resistance after three rejections and made $0.27 the dividing line for his short-term outlook. Marzell stated, “As long as $0.27 holds I think $0.275 gets taken out and $0.28 opens up.”

Crypto Patel focused on the two-week chart and identified $0.2887 as his bullish confirmation level. He noted that ADA was about 98% above his accumulation zone and listed targets of $0.50, $1, $2, $3, and $5, conditional on confirmation above $0.2887. CoinGlass showed liquidation concentrations near $0.266 and $0.257, below the latest trading price.

TradingView’s daily chart showed ADA trading above its longer-term moving averages, with the 20-day average at $0.2417, the 50-day at $0.2211, the 100-day at $0.1971, and the 200-day at $0.2132. The Chaikin Money Flow remained positive at 0.18, indicating buying pressure. The latest advance extended a recovery from roughly $0.14 in late June.