The price of Cardano (ADA) surpassed the resistance level of $0.80 on November 20, signaling the continuation of the upward trend.
Daily ADA/USDT chart | Source: TradingView
If the price maintains above $0.80, the ADA/USDT pair could surge strongly towards the psychological level of $1. This level could pose a strong obstacle, but if surpassed, the price could continue to climb to $1.25.
This positive outlook will become invalid if the price reverses and breaks down below $0.70. This could cause short-term traders to take profits, pulling the price down to the 20-day EMA at $0.58.