Cardano (ADA) experienced a tumultuous month with its price fluctuating between $0.4261 and $0.5089. Despite this volatility, Cardano managed to achieve a modest 2.22% growth in the Month-to-Date (MTD) period, as reported by Cryptorank. This performance, although not stellar compared to other top 10 altcoins, breaks a negative trend seen in the past two years.

Looking at historical data from Cryptorank, if Cardano finishes this Friday's trading session with a 2.2% increase to its current price of $0.452, it will mark the end of a two-year downtrend. In May 2022, ADA suffered a significant 17.5% decline, followed by a 5.6% drop in May 2023. This month's 2% growth indicates a positive shift, although it has yet to significantly impact market sentiment.

However, June poses significant challenges for Cardano. Historically, June has been a bearish month for ADA, with only one positive close since 2018—an 11.9% rally in 2020. In contrast, June 2018 saw a steep 38.5% decline, followed by a 7.4% drop in 2019. The bearish trend continued with a 23.1% decline in 2021 and further drops of 26.4% and 23.4% in 2022 and 2023, respectively.

Cardano has made significant strides since 2018, notably with the introduction of smart contracts, which have bolstered its Decentralized Finance (DeFi) ecosystem. According to DeFiLlama, Cardano's DeFi market currently holds a Total Value Locked (TVL) of $319.98 million, which is relatively low compared to its competitors.

For Cardano to overcome its historical June slump, a major shift might be needed. Market analyst Alexander Legolas, on X, suggests that a Stochastic RSI cross on the weekly chart could be the key. He noted that the last time this occurred, ADA's price surged from $0.47 to $0.81, a 72% increase. Another instance saw a 184% rise from $0.24 to $0.68 following a similar pattern.

Legolas believes that a Stochastic cross might happen soon, given that ADA has been oversold for the past 49 days. Meanwhile, Cardano's founder, Charles Hoskinson, continues to push for innovations to enhance ADA's utility and performance.

In conclusion, while Cardano's recent growth breaks a long-standing bearish trend, the upcoming month of June remains uncertain due to its historically negative performance. The market will be closely watching for potential signs of a recovery, such as the anticipated Stochastic RSI cross, which could signal a significant price increase.