YouTube cryptocurrency analyst LuckSide Crypto stated in his latest market commentary that Cardano’s ADA token is primed for a big breakout in the near future, despite recent price struggles.
The analyst noted several times that Cardano (ADA) is struggling but still reaching some key price levels. This points towards positive market pressure.
ADA once again attempted to reach 40 cents. […] This range of 40 to 41 cents for ADA is a difficult range. It is a range that has had problems with this year. […] Obviously, you can see it at the beginning of May, […] in April, […] in February and then also at the end of February. You keep reaching these levels and getting rejected and pushed down.
Luck Side Crypto
However, the analyst believes that the broader cryptocurrency market is on the cusp of a definitive bullish turn, which will also improve the fortunes of underperforming companies like ADA.
At some point within the next 30 days, we will get confirmation of the bull market. Is coming. It cannot be denied. It’s happening right now.
Luck Side Crypto
The potential cryptocurrency market rally is due to Bitcoin’s (BTC) recent ability to stay above its 20-month moving average, setting a new green monthly close, LuckSide Crypto noted. He sees parallels with the bullish trajectory that emerged from Bitcoin’s previous bear market in 2015.
If this historical comparison proves accurate, the analyst predicts an explosive improvement for the long-depressed digital asset market.
“Assets have been so repressed for so long that they are about to explode,” he said.
LuckSide Crypto also acknowledged that ADA has fallen behind other major cryptocurrencies by failing to quadruple its price amid recent volatility.
Although ADA hasn’t just made it this far and done 4X like other assets in the space, know that those times are coming. And they are going to happen much sooner than people think.
Luck Side Crypto
