Saad Ullah
Cardano (ADA) is showing signs of building momentum for a potential breakout. Traders are closely watching key support and resistance levels that could determine whether ADA will rally or continue consolidating.
ADA Price Builds the Foundation for a Major Rally
Cardano is positioning itself for what could be a substantial rally. Despite recent pullbacks, ADA's bullish market structure remains intact, respecting higher lows and maintaining critical support areas.
Trader @GunsRoses1987 emphasized that as long as ADA stays above $0.68 support, the bullish scenario remains alive and could trigger significant upward momentum.
ADA Must Breach $1.18 to Confirm Breakout
ADA's immediate challenge is flipping $1.18 from resistance into support. This level has acted as a ceiling multiple times, and breaking through would open the path to $1.40, $1.80, and higher targets.
Technical analysis suggests an Elliott Wave pattern, indicating ADA could be preparing for its fifth impulsive wave - typically associated with strong price movements. If bulls succeed, a move toward $1.80 could happen quickly.
Cardano (ADA) Price Outlook: Path Toward $1.80 and Beyond
Investor sentiment remains cautiously optimistic, with ADA being one of the most watched altcoins. Historically, Cardano delivers strong rallies once it clears key resistance levels, making the $1.18 breakout crucial.
If $0.68 holds as support and $1.18 flips into support, ADA could enter a parabolic phase with targets beyond $1.80. However, failure to maintain these levels could delay the rally and keep ADA in its current range.
All eyes remain on ADA's ability to conquer $1.18 resistance as traders prepare for what could be Cardano's next explosive move.
Saad Ullah
