Cardano (ADA) Price Eyes $0.94 as Coinbase Boosts Holdings 462% and Q4 Rally Hype Grows

Cardano (ADA) is showing renewed momentum after weeks of sideways action, climbing back above its 50-day moving average and putting the $0.94 resistance back in focus. Traders view this level as the next major hurdle to unlock a run at the $1.00 psychological mark.

On the daily chart, ADA has reclaimed its green 50-DMA as support, while RSI has rebounded toward 50, leaving room for further upside if buy volume continues to build. A clean daily close over $0.9 would confirm a trend shift and strengthen the case for a Q4 continuation rally.

Fueling the bullish narrative, Coinbase’s ADA holdings surged 462% to 9.56 million ADA in recent months, coinciding with rapid growth in Coinbase Wrapped ADA (cbADA) on the Base network.

Total cbADA supply has expanded to 9.53 million from 1.7 million at launch, pointing to rising on-chain utility and custody demand from larger players.

In stark contrast, Coinbase’s XRP reserves dropped 98% (from 970 million to 16.39 million), underscoring a rotation in on-exchange liquidity and user preference toward wrapped Cardano products.

From a technical standpoint, Cardano’s (ADA) structure appears increasingly constructive, with the token reclaiming its 50-day moving average and holding firm within the $0.83–$0.85 support zone, a critical base that continues to attract dip-buying interest. Losing this range could open the door to a deeper pullback toward $0.75, but as long as price remains above it, the setup favors further upside.

On the resistance side, $0.94 remains the key multi-touch ceiling, and a decisive breakout above this level could trigger a move toward $1.00, with extensions possible to $1.06–$1.12.

Meanwhile, a rising RSI and improving market breadth suggest healthy momentum, reinforcing the view that short-term pullbacks are likely to be absorbed by buyers.

Macro factors also support he bull case. With Bitcoin steady near record territory, capital rotation into large-cap altcoins typically strengthens into year-end. Similarly, Cardano’s fundamental backdrop, expanding DeFi, smart-contract adoption, and wrapped-asset growth on Base, supports a higher-low, higher-high structure.

If Cardano prints a decisive daily (or weekly) close above $0.94, technicians will look for a swift push to $1.00 and potentially $1.20 on momentum follow-through.

Cover image from ChatGPT, ADAUSD chart from Tradingview