- Bitcoin, Ethereum, and altcoins like ADA are slowly moving upward again.
- Analyst says Cardano might jump 27% if resistance breaks soon.
- Cardano whales recently sold 180 million tokens.
The top 10 cryptocurrencies are showing signs of recovery following a quiet weekend in the markets. Bitcoin surged past $87,000, while Ethereum gained around 2%, helping to lift broader sentiment. Other major altcoins like Cardano (ADA), Dogecoin (DOGE), and XRP also posted slight gains, clawing back losses from earlier in the month.
Analyst Eyes Potential 27% Cardano Breakout
Cardano, in particular, has attracted attention as it recovers from a week-long dip. According to crypto analyst Ali Martinez, ADA is currently consolidating within a triangle formation, which typically precedes significant price movement.
Martinez predicts a potential 27% breakout, should ADA breach the upper resistance.
This comes just days after Cardano whales reportedly sold 180 million ADA tokens over a five-day span, coinciding with the early stages of ADA’s price upswing.
Related: Bitcoin Range Vs. Altcoin Surge: Key Crypto Charts Analyzed
Analysts predict that ADA could break out in May, possibly within the next 10 days, seeing current market fear as macro-driven, not fundamental weakness. However, ADA hasn’t returned to its previous all-time high of $3, even when Bitcoin hit new records. However, bullish analysts believe that Cardano could reach new highs early in the next altcoin rally.
What’s Next For ADA Price?
Per MoreCryptoOnline analysis, ADA recently bounced from a $0.61 low and trends upwards short-term.
Right now, ADA is aiming for the next resistance level at around $0.78 — this is a price where ADA struggled to move higher back in late March. If the price can break above this level, it could continue climbing.
Related: Is Solana Set to Overtake Ethereum in 2025? A Record-Breaking Quarter Says Yes
However, analysis suggests one more dip might occur before confirming a full reversal. A drop below the $0.611 low could invalidate the bullish setup, while a confirmed break above the $0.634 local high strongly reinforces the bull case.
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Source: https://coinedition.com/crypto-market-edges-higher-as-bitcoin-crosses-87k-cardano-eyes-breakout/