Is ADA on the Verge of a Breakthrough: Can Cardano Exceed $1 Soon?

Cardano's native token, ADA, has seen a significant 30% weekly surge after weeks of consolidation and price warnings. A popular crypto analyst suggests that this might be the start of a further surge beyond $1 if ADA can break a key resistance level, which is currently being tested. The resistance level is around $0.74, a figure ADA has tangled with before.

ADA briefly surpassed this during a recent price surge but was unable to maintain it. Despite a substantial correction since mid-May, ADA remains the top performer amongst the 12 largest cryptocurrencies by market cap. This comes after IOG's proposal to trade $100 million worth of ADA for BTC and stablecoins to enhance the blockchain's DeFi ecosystem, a move that met resistance from some members fearing a potential sell-off.