Analysts predicted a 40% growth of the Cardano digital token

The value of the Cardano cryptocurrency (ADA) has been moving in a downward channel for 5 months. Despite some volatility, the digital asset still retains potential for possible growth, analysts said.

Large Cardano investors are showing more and more skepticism about the asset. Over the past few days, addresses holding between 10 million and 100 million ADA have sold approximately 140 million tokens worth more than $ 50 million.

While this move has raised concerns, similar actions by whales in the past have led to price increases. Large-scale sales by large investors often create potential acquisition opportunities. However, the overall market sentiment remains cautiously optimistic. Sales have put some pressure in the short term, but the long-term outlook suggests that downturns may have the opposite effect on the price.

According to experts, Cardano’s price is approaching a breakout from the downward channel that has been holding it back for the past 5 months. The reaction to the key resistance level of $ 0.37 will determine whether the cryptocurrency will be able to gain a foothold above its upper limit. If ADA successfully turns $ 0.37 into support, the price of the altcoin could rise by 40% and reach $ 0.51.