Cardano (ADA) Approaches Key Resistance

Cardano (ADA) has been slow-moving, but its recent upswing above $0.81 hints at a potential breakout. Following BNB’s recent rally, ADA could aim for $1, but challenges remain.

Key Technical Levels & Trends:
📌 Resistance at $1.2 – ADA faced rejection here, triggering a descending parallel channel.
📌 Current Range – Trading between the 50-day & 200-day MAs, keeping bullish hopes alive.
📌 RSI & Ichimoku Cloud Concern – RSI shows bearish divergence, while Ichimoku’s +Di failed to confirm a bullish crossover.

Can ADA Break Above $1?
📈 Bullish Path: If ADA sustains momentum above $0.85, a move toward $1 is possible.
📉 Bearish Risk: Weak buying volume & market hesitation could lead to another rejection at $0.85.

For ADA to truly break out, stronger market sentiment and higher buying volume are needed. Will February be the month ADA finally crosses $1?