Cardano (ADA) has a strong fundamental background, but its price has been sluggish lately, although the development activity of the chain remains high. Despite this, there has been a spike in dApp transactions on the Cardano chain, with the latest meme-coin hype causing a surge in transactions and Total Value Locked (TVL). However, the ADA price rally remains sluggish and trades around crucial levels, and the question remains whether it will trigger a bullish breakout and surpass $0.4 amid the current bullish wave.

The ADA price has recently broken the descending trend and surged along the ascending trend line. The price has rebounded each time it tested the lower support, and it is expected to follow a similar trend as it is about to test these levels again. However, if the price fails to trigger a rebound, it may experience a hard plunge to test the lower support below $0.3.