Cardano's ADA is eyeing a potential rally to $1.20, contingent on breaking the $0.88 resistance level. Recent weeks have seen ADA align with the broader crypto market recovery, but the $0.88 mark has consistently impeded progress throughout 2024. Analysts emphasize the need for a decisive close above this level, supported by strong trading volume, to sustain upward momentum.
On-chain data reveals increased activity on the Cardano network, supporting a bullish outlook. Additionally, positive sentiment surrounding major cryptocurrencies like Bitcoin and Ethereum could further aid ADA's ascent. Investors are advised to watch for volume spikes and consolidation above $0.88, as failure to break this resistance might result in a pullback to support levels around $0.75.
Cardano ADA Targets $1.20 Amid Resistance at $0.88
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