\n\t\t\t\t\t\t\t\t\t\u201cWhoever thinks Cardano is dead has clearly not been through other bear markets,\u201d one analyst argued.\t\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n
Cardano\u2019s native token, once part of crypto\u2019s elite top 10 club, has been among the worst-affected digital assets during the ongoing bear market.<\/p>\n
Its price has plummeted by 65% over the past year, but that hasn\u2019t affected the optimism of many analysts who believe a major resurgence could be on the horizon.<\/p>\n
ADA is Dead or\u2026?<\/h2>\n
As of this writing, the asset trades at around $0.25, while the last time it touched the $1 milestone was roughly a year ago. And while some believe that ADA won\u2019t be able to reclaim its former glory, X user Sssebi argued<\/a>\u00a0that \u201cwhoever thinks Cardano is dead has clearly not been through other bear markets.\u201d<\/p>\n The analyst noted that underperformance during such phases is normal, but added that 200-300% pumps can occur within weeks once sentiment turns bullish.<\/p>\n \u201cDon\u2019t get fooled by an overall bad sentiment across all markets,\u201d they stated.<\/p>\n<\/blockquote>\n The post triggered mixed reactions, with some sharing the same theory. The non-custodial staking infrastructural provider Everstake, for instance, predicted<\/a> that Cardano \u201cis set to surprise everyone this year.\u201d<\/p>\n Others remain disappointed with the asset\u2019s performance, doubting it will stage a meaningful recovery and advising investors to take profits should one occur.<\/p>\n JAVON MARKS is another analyst who recently gave their two cents on ADA. The market observer suggested<\/a> that over the past few years, the token might have formed a base similar to the one that preceded a major rally in 2021.<\/p>\n Earlier this month, the renowned analyst Ali Martinez opined<\/a> that ADA has reached the \u201cmake-or-break\u201d level at $0.243. He explained that this area has historically served as a key pivot and a launchpad for major price swings.<\/p>\n Holding this zone could pave the way for a move to $0.30, but losing it might signal structural weakness and potentially drag the valuation to as low as $0.10. Despite a short-lived drop to $0.24 on April 20, bulls have mostly defended that area.<\/p>\n Meanwhile, ADA\u2019s recent exchange netflows have been mostly negative. This means that investors continue to shift tokens from centralized platforms to self-custody methods, thereby reducing immediate selling pressure.<\/p>\n\n
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Still Awaiting the Major Move<\/h2>\n
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