Cardano Breaks Out Above Multi-Year Resistance at $0.24

Cardano (ADA) has finally broken out of its multi-year trading range, reaching above the $0.24 zone on the weekly chart for the first time in years.

The move is a significant one, as ADA had been capped at this level through a prolonged decline and sideways trading.

Sssebi, an ADA staking pool operator, noted that the cryptocurrency's weekly close above $0.24 marks a turning point, but it's still too early to judge if it's a decisive breakout or just a temporary move.

The key now is whether ADA can hold this level and turn it into support, settling above it. If buying interest continues, the first upside target is $0.30, with some analysts even predicting a long-term price of $0.40 or higher.