The Cardano ADA cryptocurrency is up 5% in the last month, hovering around the $0.83 mark for most of August. Looking for a catalyst to climb, analysts are pointing toward a potential Fed interest rate cut this September. The last time the Federal Reserve slashed rates, the stock market and crypto market saw a slight boost. As a result, ADA bulls are hopeful that a rate cut at the next Fed meeting could spark ADA to steady above $1.
While ETH, BTC, and even BNB coins all hit new ATHs in August, Cardano could be set to follow that path in the coming months. Currently, $1.3 serves as the upper resistance for the altcoin to target next. Per X analyst CryptoTarget11, Cardano is following a similar pattern it underwent back in 2020, one that sent ADA surging. If the asset were to follow the pattern again, starting after a potential September rate cut, the coin could rocket to $3.
ADA Price Target Nears ATH-Levels
ADA’s daily chart shows a strong area of support for the altcoin at $0.74. There is a confluence between the 200-day exponential moving average (EMA) and a key trend line support for ADA at that price point. Hence, if the token moves to this area, holders could see Cardano explode past $1 first and then to $3 for a potential 314% gain. This scenario is attainable as it would put ADA near its all-time high of $310 from September 2021.
Also Read: Cardano (ADA) & Solana (SOL) Price Prediction For August 31st 2025
Furthermore, ADA has long been exhibiting a true decentralized stance, compelling the investors to take note of ADA on a deeper level. ADA’s founder, Charles Hoskinson, has also been praising the chain, adding how Cardano is meant to onboard “the future” on its chain. The claims have added more fuel to the fire beneath the ADA cryptocurrency, which could fully come to light following an interest rate cut in September.
CoinCodex ADA data suggests Cardano will be sitting at $0.92 by August 31st, 2025. According to CoinMarketCap, 89% of crypto users are bullish on the asset, and $1 seems like a reasonable target for September.
