Cardano (ADA) is on the verge of breaking a key resistance, and analysts believe that surpassing this level could lead to a significant upward movement. Since the beginning of March, Cardano’s value has dropped by over 44%, attributed to severe market fluctuations and selling pressure in the crypto market. While many altcoins have been affected by this bearish trend, some analysts predict that Cardano may soon initiate a new upward trend. Analyst Ali Martinez has stated that ADA is on the brink of breaking out of an ascending triangle pattern. If this pattern’s resistance is breached, there is a possibility of a 15% price growth, which could assist bulls in returning to the market. In the coming days, maintaining the current range and surpassing the key resistance could change the market sentiment. If buyers can take control, the upward trend of ADA will accelerate. Currently, Cardano is trading around $0.73 and striving to hold important moving averages as support. To confirm the upward trend, ADA needs to break above the $0.80 mark, paving the way for reaching higher levels smoothly. However, if ADA fails to maintain this level, selling pressure will increase. In such a scenario, losing the $0.69 support could decrease the price to $0.58. Traders are currently awaiting a decisive move from Cardano to determine the market’s next direction.
