TLDR
- Cardano price is currently trading at $0.8180, showing a 2.10% increase on September 2.
- Technical indicators suggest a potential 47% price surge for Cardano to $1.20 in the near term.
- Cardano has found strong support at the 100-day moving average, which often signals a rebound.
- The formation of an inverse head-and-shoulders pattern suggests potential for further price gains.
- A 90% chance of SEC ETF approval is fueling optimism for Cardano price growth.
Cardano price shows promising signs of recovery, trading at $0.8180 today, September 2, marking a 2.10% increase. This upward movement follows a dip, which investors are now seizing as a buying opportunity. One crypto analyst believes that Cardano could surge to $1.20 soon, driven by growing optimism around an upcoming ETF decision.
Cardano Price Poised for a 47% Surge to $1.20
Technical analysis suggests that Cardano price may rebound soon. A popular crypto pundit highlighted the formation of an ascending channel on the four-hour chart. The price has already tested the lower boundary, suggesting that a rebound is likely.
Further bullish signs come from the daily chart, where ADA has found support at the 100-day moving average. Historically, Cardano price has rebounded each time it hits this level. For instance, in August, ADA surged by 43% when it tested the same support.
Cardano $ADA must break $0.88 to confirm a rally toward $1.20! pic.twitter.com/BpCLzSor4B
— Ali (@ali_charts) September 1, 2025
Additionally, an inverse head-and-shoulders pattern is taking shape, with its head at $0.50. The neckline sits just below the psychological $1 level, indicating potential for a breakout. A move past this resistance could send Cardano price toward the analyst’s target of $1.20.
ETF Approval Could Be the Catalyst for Cardano Price Growth
The potential approval of an ADA ETF by the SEC in October remains a key driver. Analysts now give the approval a 90% probability, adding to the growing optimism. This approval could boost Cardano price similarly to what happened with Ethereum and Bitcoin ETFs.
Ethereum saw $13 billion in inflows, while Bitcoin ETFs gained $54 billion over the past year. A similar trend in Cardano could trigger significant price growth. This, coupled with partnerships like Chainlink and the ongoing NIGHT airdrop, strengthens the bullish outlook for ADA.
In conclusion, Cardano’s price stands at a crucial crossroads, with the ETF’s decision looming. A successful ETF launch could propel ADA to the $1.20 mark, while a drop below $0.700 would negate this outlook.
