- Cardano (ADA) managed to climb more than 34% in the past week.
- ADA was able to break above the key $0.5940 resistance level and was trading at $0.6403.
- A significant long-term bullish technical flag was triggered on ADA’s daily chart, suggesting that momentum has shifted in favor of bulls.
Cardano (ADA) delivered a strong performance this past week. Data from the cryptocurrency market tracking website CoinMarketCap showed that the altcoin saw its price rise more than 34% in the last seven days. As a result, ADA was changing hands at $0.6403 at press time.
With ADA breaking above the $0.60 mark, the altcoin may continue to attract traders who have a fear of missing out. This potential wave may have the strength needed to elevate ADA to $1 in the coming few weeks.
Daily chart for ADA/USDT (Source: TradingView)
ADA was able to break above the key resistance level at $0.5940 over the last four days and continued to trade above this significant price point as of press time as well. If ADA is able to sustain a position above $0.5940 for the next week, it may have the foundation needed to continue climbing in the following two weeks.
In this bullish scen…
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