Cardano Targets 30% Gain As It Approaches Key Resistance

Technical analyst Ali has shared a price chart illustrating Cardano’s (ADA) current market structure and outlined a key level to watch. According to Ali, Cardano is approaching a critical resistance level. He noted, “A daily close above $0.85 could propel Cardano $ADA toward the next key resistance at $1.31!” The statement was accompanied by a chart showing ADA trading around $0.74 at the time of the post, having recovered significantly from previous lows near $0.55 earlier in July. The chart depicted ADA’s strong upward movement in recent weeks, with clear horizontal resistance lines marked at approximately $0.85 and $1.31. The price is currently testing levels last seen in late May, with momentum carrying it above intermediate support zones near $0.68.

Ali’s analysis suggested that surpassing $0.85 with a decisive daily close could signal a continuation of this upward trend, potentially targeting the next resistance level at $1.31. In response to Ali’s technical outlook, several users provided their perspectives on ADA’s future trajectory. A user identified as Delfina Reds expressed skepticism about ADA maintaining gains beyond $1. In her reply, she stated, “When it hits $1, many will take profits, instead of going to $1.3. $ADA will return to cents again. that’s the fate of $ADA.” This comment reflects a common concern among market participants that profit-taking at round psychological levels like $1 could lead to a reversal in price before reaching higher targets.

Another user, İyiniyetli, raised a more cautionary question about the nature of the current rally. Addressing Ali, he wrote, “As one of the few trustworthy individuals, I’d like to ask you: Could this entire ascension process be an exit liquidity? Could the people shouting ‘bull’ soon be proven wrong?” This remark implies doubt about the sustainability of the rally and whether it may be driven by larger holders exiting their positions while retail investors buy in at higher levels. The debate among users underscores the uncertainty that remains in the market despite ADA’s recent strength. Since hitting multi-month lows, Cardano has posted a sharp recovery, gaining more than 30% over the past few weeks. However, resistance levels near $0.85 remain unbroken, and historically, ADA has struggled to maintain upward momentum after testing psychological thresholds such as $1.

Ali’s observation draws attention to this technical barrier as a potential turning point for the asset. His view highlights the importance of closing above $0.85 on the daily timeframe to validate bullish continuation. Until such a breakout occurs, price action may remain volatile and prone to reversals, as some community members have cautioned. Ali’s analysis emphasizes the significance of key technical levels for traders and investors monitoring ADA’s progress. While the $0.85 resistance and subsequent $1.31 target are clear milestones on the chart, the differing opinions from market participants reflect the cautious optimism and skepticism that often accompany strong rallies. According to Ali, the daily close remains the primary signal to watch for confirmation of the trend, as the current upward move approaches a critical test.

The next few trading sessions will be crucial in determining whether Cardano can decisively break through resistance and continue toward higher levels or if profit-taking and broader market sentiment will cap the rally. As Ali has suggested, the $0.85 level serves as the immediate focal point for ADA’s potential continuation.