Analyst States What Could Trigger Cardano (ADA) Rally to $1.31
2025-07-20 07:16:20
Main Idea
An analyst suggests that Cardano (ADA) could rally to $1.31 if it closes above the $0.85 resistance level, while community members express mixed views on ADA's future price movement.
Key Points
1. Analyst Ali states that a daily close above $0.85 could push Cardano (ADA) toward the next key resistance at $1.31.
2. ADA has shown strong upward movement, recovering from lows near $0.55 in July to trade around $0.74 at the time of analysis.
3. Some community members, like Delfina Reds, are skeptical about ADA sustaining gains above $1, predicting a drop back to lower levels.
4. ADA has historically struggled to maintain upward momentum after testing psychological thresholds like $1.
5. The $0.85 resistance level is seen as a critical focal point for ADA's potential rally.
Description
Technical analyst Ali has shared a price chart on X 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 cha...
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