- Cardano price remains stable above $0.80 amid a tightening triangle pattern, suggesting an approaching breakout after steady accumulation.
- The Hydra Node 1.0 launch enhances Cardano’s scalability potential, achieving over one million transactions per second during testing.
- Coinglass data reveals mild $1.41M outflows, reflecting cautious investor accumulation but limited institutional participation.
Cardano’s price continued to trade steadily above $0.80 on Saturday, maintaining its position along the ascending trendline support. The cryptocurrency has been consolidating after a volatile week, with traders closely monitoring price behavior inside a tightening symmetrical triangle structure.
On the four-hour chart, ADA trades between support near $0.80 and resistance around $0.839, where the 20- and 50-EMAs converge. This range has created a short-term pivot zone that could determine the next market direction. If the price closes above $0.839, upward targets at $0.86 and $0.88 may emerge. However, a move below $0.80 could expose the $0.78 to $0.76 support region.
Momentum indicators show restrained activity, with the RSI hovering near 43, reflecting a mild bearish bias. The tightening formation suggests that volatility is compressing, often preceding significant market movement.
Hydra Node 1.0 Strengthens Cardano’s Technical Position
Cardano’s network sentiment improved after the release of Hydra Node 1.0, a long-anticipated scaling upgrade designed to accelerate transaction speeds. Testing revealed throughput surpassing one million transactions per second, highlighting Cardano’s progress toward efficient on-chain scalability.
Community engagement has surged, with more than 22,000 interactions on the announcement post. Market participants expect developer adoption around Hydra to reinforce network activity and offset recent periods of price stagnation.
Exchange Data Reflects Moderate Accumulation
On-chain data from Coinglass shows $1.41 million in net outflows on October 10, signaling modest accumulation among traders. Despite the positive signal, the overall volume remains limited, indicating that institutional involvement has not yet intensified. Open interest levels have stayed flat, suggesting that speculative positions remain subdued.
The symmetrical triangle continues to compress between $0.80 and $0.84, where the 100-EMA aligns at $0.834. A confirmed breakout above this range may extend ADA’s advance toward $0.88 and potentially $0.90. Conversely, a failure to maintain support could trigger a retest of the $0.76 base.
Cardano’s technical and fundamental setup reflects cautious optimism. As long as the price remains above $0.80, traders may anticipate further consolidation before a decisive breakout. The Hydra milestone adds confidence to the network’s growth narrative, though sustained buying momentum will be essential to propel ADA beyond resistance in the sessions ahead.
