An assessment said Cardano must first reclaim four key resistance levels, including $0.34, to improve its technical outlook. On Sept. 28 (local time), blockchain media outlet Decrypt reported that Bitmain Mining founder Giannis Andreou (지아니스 안드레우) said it is difficult to confirm clear upside momentum until ADA retakes $0.34.

Andreou pointed to Cardano slipping below the psychological level of $0.25 over the weekend, giving back part of its recent gains. While other altcoins are moving to reclaim key price levels, Cardano remains below its first meaningful resistance at $0.34, he said.

He cited additional resistance levels at $0.74, $0.95 and $1.20. Even if Cardano rebounds, it could face selling pressure at each of these zones, he said, adding that breaking $0.34 alone may not be enough for a recovery to continue immediately.

At the time of the weekly chart analysis, ADA was priced at $0.2574. That was 32.09 percent below $0.34. ADA later rose as high as $0.2643 over the weekend but fell to $0.2434 by the time of writing. From that level, it would need to rise about 40 percent to reach $0.34. To reclaim $1.20, it would need to climb 394 percent from the current level.

Andreou also flagged downside risks. If Cardano fails to recover $0.34, it could fall sharply over the next 2 years, he said. He still left open the possibility that Cardano could eventually turn bullish and maintained a cautious stance until clearer price action emerges.

ADA holders were split. Some highlighted the recovery from a recent low of $0.14, while others agreed with concerns that Cardano is underperforming other altcoins.

ADA currently ranks as the 14th-largest cryptocurrency with a market capitalisation of $9.04 billion. ADA last traded above $1 in August 2025.

Cardano founder Charles Hoskinson (찰스 호스킨슨) previously forecast that ADA would return to the top 10 in cryptocurrency market capitalisation by year-end. The current No. 10, Hyperliquid, has a market capitalisation of about $22.34 billion. If Cardano reaches that market cap while keeping its current circulating supply, ADA could be priced at about $0.60.