Cardano (ADA) has seen steady growth over the past few weeks, with a 3.45% increase in its price over the last 24 hours and an 11.99% gain across the previous seven days. This positive momentum could soon be spurred further by Cardano breaking through a huge sell wall that currently stands between $0.40 and $0.42. This wall, made up of 3.85 billion ADA, has served to prevent the digital asset from advancing further up the market.

Should Cardano breakthrough this sell wall, the analyst Ali Martinez believes it will spark a bull rally for the token as there would be minimal resistance ahead. This could be hastened by other factors contributing to the increasing demand for Cardano. One of these is the continuation of its intensive development work, such as a key upgrade to the Cardano network which has been on-going since July 2020 and has, consequently led the coin to soar.

Although it has taken some time for the network to come to fruition, Cardano is finally beginning to showcase the tangible advantages that its coin brings to the table, something which looks set to contribute to its success. From testnets and node management platforms, to its next-generation virtual machine and its unique proof-of-stake mechanism, Cardano has been able to both extend the range and quality of services available through its blockchain, while at the same time offering near impossible levels of scalability.

With prospects like these, could it be only a matter of time before Cardano is able to break through the sell wall and reach the target of the analyst, $0.50 or higher? As ever, only the crypto market can tell.



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