• ADA ($0.40) has broken out of consolidation, approaching key resistance at $1.40, targeting $3.00.
• Positive on-chain metrics and development activity hint at sustained momentum, despite some bearish sentiment.

Cardano [ADA] is making waves in the crypto space, surpassing a major milestone by reaching 130,000 transactions per second on its network. At press time, ADA was trading at $1.22, down 0.28% over the last 24 hours.

Despite this minor dip, the cryptocurrency has broken out of a prolonged consolidation phase and is now approaching crucial resistance at $1.40. 

With such a move, Cardano could trigger a potential rally, sending ADA to new highs. However, can it maintain this momentum, or will resistance hold it back?

ADA’s chart analysis: A breakout to new heights?

ADA’s recent breakout from its consolidation phase has caught the attention of traders. The price is approaching the $1.40 resistance level, which will be crucial for the next phase of growth. 

If ADA can surpass this level, the next target may be as high as $3.00. The Stochastic RSI, which stands at 100, signals strong bullish momentum, confirming that ADA is in an overbought condition.

However, this may indicate that a correction is near unles...