Cardano Eyes $10 as Key Resistance Levels Come into Focus

Analyst Highlights Crucial Price Points for a Potential Breakout

Cardano (ADA) has been riding a wave of extreme volatility, making it one of the most unpredictable assets in the crypto market. The latest surge came after U.S. President Donald Trump announced the creation of a U.S. Strategic Crypto Reserve, which notably included Cardano. Following the announcement, ADA skyrocketed by over 80% within a single day, sparking widespread speculation about its long-term institutional adoption.

However, the excitement was short-lived. Macroeconomic uncertainty and escalating trade war fears triggered a sharp reversal, wiping out 35% of ADA’s gains in just two days. As global financial markets remain unsettled, traders are treading carefully, unsure whether ADA can regain its bullish momentum or if further downside is imminent.

Despite recent turbulence, crypto analyst Ali Martinez sees a path forward for Cardano’s price to surge toward $10. According to Martinez, ADA remains positioned for a potential rally if bulls can reclaim critical technical levels. While short-term weakness persists, key support and resistance points could determine the next major move for the asset.

Cardano Prepares for a Major Price Move

Over the past week, Cardano has demonstrated relative strength compared to the broader crypto market, outperforming many assets despite its price swings. However, ADA remains trapped within a range that has been forming since November 2024, preventing a definitive breakout in either direction.

For a bullish move to materialize, ADA must maintain support above $0.80 and successfully break through the crucial $1.20 resistance level. Martinez’s technical analysis suggests that these price zones serve as pivotal markers—if bulls can hold their ground, ADA could attempt to push past multi-year highs, setting the stage for a significant rally.

Nevertheless, investor sentiment remains cautious. Macroeconomic pressures and geopolitical uncertainty continue to weigh on market confidence, and many traders are waiting for a clear confirmation before committing to long positions. If momentum shifts in favor of the bulls, another explosive rally could be on the horizon, potentially driving ADA toward the highly anticipated $10 target.