Can Cardano Rally to $1.20? Analyst Lays Out the Technical Path

• Analysts say Cardano (ADA) must break the critical $0.88 resistance level to trigger a rally to $1.20
• Founder Charles Hoskinson has declared he wants “Cardano to win,” highlighting the upcoming “Glacier” upgrade
• Despite bullish sentiment, Ethereum’s TVL and market cap still vastly outpace Cardano’s

Cardano (ADA) is showing renewed bullish momentum, gaining more than 3% in the past hour and trading at $0.83 at press time, according to CoinMarketCap data. 

The token rebounded from a daily low of $0.7964, with traders eyeing a potential breakout from its consolidation phase.

Can ADA Break the $0.88 Resistance?

Top analyst Ali Martinez highlighted that $0.88 is the key resistance ADA must conquer to validate a rally toward $1.20.

What are the key ADA levels to watch?

Martinez shared a chart analysis, showing Cardano inside an ascending channel since mid-June, with Fibonacci levels providing crucial price ranges.

The immediate resistance lies at $0.8789 (0.786 Fib level). A decisive close above this threshold could pave the way for ADA to test $0.96, followed by $1.05 (1.1019 Fib extension). 

Should bullish momentum sustain,…

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