Can Cardano Rally to $1.20? Analyst Lays Out the Technical Path

Analysts say Cardano (ADA) must break the critical $0.88 resistance level to trigger a rally to $1.20 Founder Charles Hoskinson has declared he wants “Cardano to win,” highlighting the upcoming “Glacier” upgrade Despite bullish sentiment, Ethereum’s TVL and market cap still vastly outpace Cardano’s Cardano (ADA) is showing renewed bullish momentum, gaining more than 3% in the past hour and trading at $0.83 at press time, according to CoinMarketCap data. The token rebounded from a daily low of $0.7964, with traders eyeing a potential breakout from its consolidation phase. Can ADA Break the $0.88 Resistance? Top analyst Ali Martinez highlighted that $0.88 is the key resistance ADA must conquer to validate a rally toward $1.20. Source: TradingView What are the key ADA levels to watch? Martinez shared a chart analysis, showing Cardano inside an ascending channel since mid-June, with Fibonacci levels providing crucial price ranges. The immediate resistance lies at $0.8789 (0.786 Fib level). A decisive close above this threshold could pave the way for ADA to test $0.96, followed by $1.05 (1.1019 Fib extension). Should bullish momentum sustain,… The post Can Cardano Rally to $1.20? Analyst Lays Out the Technical Path appeared first on Coin Edition .