Cardano’s native ADA token has been closely watched by crypto investors and analysts alike, many of whom believe the asset is gearing up for a significant bull run despite ongoing turbulence across digital asset markets.
In the past month alone, ADA notched roughly 50% in gains. Now, traders have turned their attention to several key resistance levels that Cardano has repeatedly struggled to conquer so far this year.
Crypto strategist LuckSide acknowledges ADA has lagged behind other top altcoins throughout recent volatility. However, he firmly believes the layer-1 blockchain is on the cusp of a major breakout.
LuckSide notes ADA has persistently tested – but failed to breach – the $0.40 to $0.41 price range in 2022. However, concerted efforts from bulls to overcome this barrier have ramped up dramatically over the past few weeks as markets regain their footing.
The analyst points out that if Bitcoin manages to securely settle above $38k for an extended period of time, odds are high it could provide enough tailwinds to power ADA through formidable resistance.
Overall, various crypto analysts have bold $10+ predictions for Cardano’s digital asset as momentum continues building ahead of a potential bullish explosion.
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