Cardano (ADA) Set for 85% Surge as Key Resistance Breaks

I believe that Cardano (ADA) is strongly positioned for a bullish breakout as it tests a critical resistance zone around $0.76 to $0.80. After experiencing a significant rebound from recent lows, ADA has recovered around 8.8% from the previous week and is retesting its key resistance levels, which historically have been pivotal for trend reversals. The recent market behavior indicates that ADA has been oscillating within the $0.65 to $0.85 trading corridor since the Q2 recovery, with a notable spike to $0.93 in July. The current attempt to break through the descending resistance and reclaim the 50-day Moving Average suggests bullish momentum, especially since it has now reclaimed this crucial indicator. If the price can ascend above $0.80 convincingly, it would confirm a trend reversal and potentially open the door for a jump towards $1.30, aligning with earlier technical patterns. Analysts point out that ADA is forming a classic wave structure and trading within a descending channel since its high of $1.32 in December 2024. A break above $0.84 could set the stage for a 120% surge, reaching new all-time highs. Given the technical signals and the historical pattern of surging after breaking significant resistance, I see a strong likelihood of substantial upside — possibly as much as 85% to 120%. However, caution is warranted if price rejection occurs at $0.80, which could lead to retesting recent lows and a continuation of the current sideways trend. Overall, the bullish technical setup and analyst forecasts suggest that holding ADA in anticipation of a breakout could be a strategic move. Traders should monitor the key resistance at $0.80 and ensure that the breakout confirms ongoing strength in ADA’s price action.