Recently, the cryptocurrency market has once again shown vitality, with the performance of Cardano ( ADA ) being particularly noteworthy. The latest data shows that the current trading price of ADA is $0.89, with a 24-hour increase of 5.45%, indicating a strong upward momentum.

As the date of the Federal Reserve's decision in September approaches, investors are closely monitoring the impact of macroeconomic factors on digital assets. Technical analysis shows that the price trend of ADA is exhibiting a wedge upward pattern, which typically indicates a potential significant breakout in the future.

From the price structure perspective, $0.95 and $1.05 are two key resistance levels that ADA is facing. If it can successfully break through these levels, ADA may open the path to higher price levels. Analysts predict that based on Fibonacci extension, ADA is expected to reach $1.16, and even further climb to $1.40 and $1.65.

However, investors also need to be aware of potential downside risks. Currently, $0.82 and $0.78 serve as important support levels, providing ADA with a certain safety cushion.

The daily chart analysis further validates the upward trend of ADA. Market structure shows that investors maintain sustained interest in ADA, steadily accumulating along the established trend line. The parabolic SAR indicator is currently below ADA's market value, which may suggest that once it breaks through the resistance level, ADA will have greater upward potential.

It is worth noting that the long-term prospects of ADA are closely related to whether it can drive a larger-scale cyclical rebound. Technical indicators generally support bullish expectations, but the convergence of the wedge pattern also suggests the possibility of significant volatility.

In summary, although ADA continues to fluctuate between support and resistance levels in the short term, technical analysis provides positive signals for its future trend. Investors should closely monitor breakthroughs at key price levels while weighing potential risks and rewards.