Cardano (ADA) has recently gained attention from investors as it approached critical resistance levels. It sparked speculation of a significant price surge. With technical indicators suggesting a potential breakout, Cardano price could rise to $1.60 in the short term. Beyond that, analysts forecast a long-term potential of $10 by 2029. These factors, combined with upcoming developments, position Cardano as a strong contender in the cryptocurrency market. ADA’s Bullish Technical Indicators and Long-Term Potential Cardano’s price chart has shown a bullish consolidation pattern, particularly an ascending triangle. This pattern suggested that a breakout could be imminent if ADA manages to breach the resistance level between $0.75 and $0.80. The rising trendline within the pattern indicated growing momentum. Besides, a break above that resistance could pave the way for further price increases. Trading volume has also surged in recent days, signaling heightened interest in ADA from both retail and institutional investors. If ADA manages to surpass the $0.75 resistance level, the next challenge will be breaking $1.00. Should the upward momentum continue, analysts predict ADA could reach $1.60, representing a 120% increase from its current price. Source: x Looking further into the future, Cardano’s long-term outlook remains optimistic. Analysts predict Cardano price could reach $10 by 2029, driven by continued development and the expanding use cases of its blockchain. As Cardano’s ecosystem grows, particularly in decentralized finance (DeFi), ADA’s demand could also increase. That will push its value higher. SEC ETF Approval Could Propel Cardano Price Growth Another important factor influencing the positive outlook for Cardano is the potential approval of an ADA exchange-traded fund (ETF). Bloomberg analysts estimate a 75% chance of approval for the Cardano ETF. It would enable institutional investors to gain exposure to ADA via traditional investment vehicles. The approval of an ADA ETF would bring increased legitimacy to Cardano and attract more interest from both retail and institutional investors. The SEC’s approval process is currently underway, with decisions expected in 2025. If the SEC approves the Cardano ETF, it could significantly enhance Cardano’s market presence. The approval of similar ETFs for other cryptocurrencies like Litecoin and Solana has already set a precedent. That made ADA’s approval likely in the near future. Such a move would likely spur demand for ADA and drive its price higher. Cardano’s Blockchain Ecosystem and Future Developments Cardano’s blockchain ecosystem plays a crucial role in its long-term growth. The platform supports a variety of decentralized applications (dApps), including those focused on decentralized finance (DeFi) and decentralized physical infrastructure (DePin). These applications help drive the adoption of the Cardano network. They demonstrate real-world use cases that attract developers and users alike. Cardano’s blockchain is designed with a strong focus on security, scalability, and energy efficiency. That sets it apart from other major blockchain platforms. As blockchain technology continues to gain broader acceptance, Cardano’s stable and secure environment for dApps ensures long-term success. source:X Despite fluctuations in the market, Cardano’s solid infrastructure and continuous development efforts keep it competitive within the cryptocurrency space. With its potential to power secure Bitcoin DeFi applications and the possibility of an ADA ETF approval, Cardano is positioned for growth both in the short term and the long term. Will Cardano Price Reach $1.60 and Set Sights on $10 by 2029? If Cardano price can break through its key resistance levels, particularly the $0.75–$0.80 range, a move toward $1.60 is possible. However, broader environmental factors will determine the timing of investment. Analysts have already expressed positivity towards Cardano. As the use cases for ADA multiply and the ecosystem of the project grows, the price prospects of ADA increase. Its chances of reaching $10 by 2029 have become more realistic. Breaking the $1.60 resistance level would be a significant milestone for ADA. It could open the door for additional growth. This breakout will possibly attract even the retail investors and the institutional ones to engage in buying the coin. That could put Cardano price up even more. $ADA price might be down right now but the bigger picture looks pretty interestingEven with low RSI and short-term weakness, some analysts think Cardano could double in this cycleAnd long term — There’s talk of $ADA hitting $10 by 2029And imo it’ll be hitting $1 – $2 in the… pic.twitter.com/TLLcRTtcfa — Trade Byte (@Official3Byte) April 30, 2025 Cardano’s constant development, together with its expanding ecosystem and the possibility of approving an ADA ETF, make the cryptocurrency more favorable in the long term.