Analyst States What Could Trigger Cardano (ADA) Rally to $1.31

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 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.

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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.

Community Voices Differing Expectations

In response to Ali’s technical outlook, several users on X provided their perspectives on ADA’s future trajectory. A user identified as Delfina Reds expressed skepticism about ADA maintaining gains beyond $1.

Market Context Supports Careful Monitoring

The debate among users underscores the uncertainty that remains in the market despite ADA’s recent strength. Since hitting multi-month lows in late June, 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.

Analyst’s Insight Shapes Market Watch

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.

Disclaimer*: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.*