Cardano (ADA) Grabs Traders’ Attention After a 20% Weekly Increase: Further Pump Incoming?

"If ADA breaks through $0.2305, it will end its long downtrend," one analyst suggested. While the past week hasn’t been too successful for Bitcoin (BTC), Ethereum (ETH), and other well-known cryptocurrencies, Cardano’s ADA defied the ongoing trend by posting a double-digit price increase. Market observers have shifted their focus toward it, with some projecting that the rally might be just starting. The Next Potential Targets ADA has been among the worst-affected digital assets by the prolonged bear market, and in June its price briefly collapsed under $0.14: the lowest level since 2020. Last weekend, though, brought a sudden and long-awaited resurgence, potentially propelled by the return of the whales who purchased more than 240 million tokens in less than a week. The uptrend continued, and as of press time, Cardano’s native token trades at around $0.193, representing a 20% increase on a seven-day scale. X user JAVON MARKS recently found similarities between the asset’s latest performance and that of 2020-2021, which was followed by a price explosion, which is why they set a target of $2.90. Sssebi and CW also weighed in. The former noted that ADA is close to crossing the 20-week...