Despite setbacks, hopes for a Cardano price surge above $1 persist, as the crypto maintains a robustly bullish investor sentiment of 88.4%.

Cardano, the sixth-most popular cryptocurrency in terms of community sentiment, is currently experiencing a surge in the market. As of writing, the digital asset is trading at $0.834, marking a 2.64% increase in the last 24 hours.

This uptrend began in late June when Cardano rallied from a low of $0.51, reaching a peak of $1.01 on Aug. 14. The current price suggests that the next target for Cardano remains $1, a level that the asset has previously struggled to hold, having seen multiple retests in January and March but failing to maintain the price.

The recent rally has seen a "Golden Cross Condition" emerge for Cardano, a technical indicator that could potentially lead to a move towards $0.90. However, a potential resistance for the digital asset is located between $0.96 and $0.983, a hurdle that Cardano will need to overcome to achieve its next price target.

If Cardano sustains above the daily Simple Moving Average (SMA) 50 at $0.829, it may aim for resistance in the range between $0.96 and $0.983. On the other hand, if the price were to drop, support is envisaged at $0.726.

The Cardano ecosystem currently boasts 2,009 projects building on the blockchain, a testament to the growing interest in the platform. This development is led by Charles Hoskinson, the founder and leading figure behind the project.

Investors appear to be bullish on Cardano, with 88.4% of voters on CoinMarketCap leaning bullish, indicating expectations of a price rise. Despite September's dull start, Cardano is sustaining bullish sentiment, a promising sign for the digital asset's future.

However, it's important to note that the cryptocurrency market is known for its volatility, and profit-taking in the market can lead to sudden drops in price. Cardano experienced this recently, reaching a low of $0.782 on Sept. 1.

As always, potential investors are advised to do their own research and consider their risk tolerance before investing in any cryptocurrency.

Despite setbacks, hopes for a Cardano price surge above $1 persist, as the crypto maintains a robustly bullish investor sentiment of 88.4%.