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- Cardano cycle shows the same chart setup that sparked a 260% rally last year.
- Open interest climbed by $250 million in a week as traders bet on ADA’s upside.
The Cardano cycle is once again in focus as traders point to a pattern that has returned on the charts. The last time this same setup appeared, ADA went on a 260% run. With the coin holding steady near $0.885 after a shaky start to September, many are asking if history is about to repeat itself.
Cardano Chart Repeats Past Rally Signal
It is worth noting that Cardano has been under pressure in recent months but is showing signs of strength again. The coin dropped to $0.782 in the first week of September during a market-wide sell-off.
Since then, it has recovered almost 6% over the past week and is trading around $0.885. This steady rebound has encouraged talk of another breakout.
Analysis from Bitcoinsensus, published on September 10, highlights how the current market structure looks very similar to what happened in 2024. At that time, ADA price fell to $0.511 in June before starting a sharp climb. By December, the coin had gained 360% and reached $1.330.
Additionally, this year, the same low of $0.511 was tested again in June, followed by a new push upward. Based on this repeating pattern, Bitcoinsensus believes the Cardano cycle could lift the coin past $1 in the near term, with a target of $1.860 further ahead.
From the June low, this would equal a 260% rise. From today’s price, it would still mean gains of more than 100%. Such signals are fueling optimism across the market. Some traders now expect a broader “altseason” where coins like ADA lead the way. Others argue that the next rally could be stronger than what was seen last year if momentum holds.
Notably, while the Cardano price outlook remains the focus, CNF reported that an audit has cleared Charles Hoskinson, as accusations collapsed under a detailed probe, confirming that billions of ADA were handled transparently.
In a separate update, as mentioned in our earlier report, Market sentiment toward the Cardano ETF has increased significantly. Polymarket showed approval odds at 87%. This comes alongside Grayscale updating its ETF filings with the SEC.
Cardano Open Interest Shows Traders Are Back
Beyond the price chart, futures data also tells an important story. Cardano’s open interest, which tracks the value of futures contracts, has jumped by $250 million in less than a week. It now stands at $1.79 billion, up from $1.54 billion last week.
This boost follows a short cooling period after open interest hit an all-time high of $1.87 billion in mid-August. The renewed interest shows traders are once again willing to place bigger bets on Cardano, a sign often linked with stronger price moves.
Market watchers say this combination of technical signals and rising futures activity makes the current setup worth watching. Well-followed analyst Crypto Patel even suggested ADA price could climb as high as $7 if momentum continues, though most see $1.860 as a more realistic target for now. As of writing, the coin was trading at $0.8878, up 1.59% in 24 hours.
With the Cardano cycle repeating and investor interest climbing, the coming weeks could prove crucial for ADA’s next big move. In a related Cardano update, as discussed earlier, Hoskinson announced a joint Cardano-XRP community meeting and plans to extend the Midnight project to XRP holders.
