Cardano’s native coin, ADA, is trading slightly above $0.18 as of Wednesday. While the digital asset has remained range-bound for the better half of the previous month, it is now flashing a TD Sequential buy indicator, generating interest from crypto traders for a potential bull rally.
Cardano flashes major bull signal
According to a Wednesday X post by seasoned crypto trader Ali Martinez, ADA could be on the precipice of a potential price rebound. The trader said that he is targeting ADA’s move to $0.20 in the coming days.
For the uninitiated, a TD Sequential buy signal appears when the indicator detects a sustained downtrend that may be approaching seller exhaustion, typically marking a potential price reversal or rebound. It does not guarantee a bottom, so confirmation from price action and other indicators is important.
The development comes after ADA showed several worrying bearish signs, indicating that the demand for the cryptocurrency might be limited. According to data from August 11, whales could be seen dumping ADA, presumably ahead of a major correction.
However, ADA weathered the sell-off, and is now looking to surprise the bears in the short-term.
In a separate X post, crypto analyst V shared the following 4-hour chart. They predicted that ADA is likely to embark on a sharp upward move from the $0.17, potentially to as high as $0.29 by mid-September.
That said, a confirmation of trend reversal would be critical for further upside for ADA. The confirmation will appear once the cryptocurrency surges past the $0.21 level, as highlighted in the above chart.
Signs were already there of potential bullish reversal for ADA. On July 10, the RSI momentum indicator suggested that Cardano could be eyeing the $0.20 target in the coming weeks. At the same time, concerns remain about ADA potentially luring investors into a bull trap.
Is altcoin season nearing?
ADA’s poor performance for most of 2026 isn’t an outlier. The wider altcoin market has disappointed bulls all through the year, with 40 percent of them still trading close to their all-time lows.
That said, there are some signs pointing toward investor interest rotating out of Bitcoin. In June, the ETH/BTC trading broke out of a massive 9-year long downtrend, igniting hopes of a full-blown altcoin season towards the end of the year.
