Cardano (ADA) Reflects 5% Spike Surpassing Resistance Level

Cardano has undergone a 5% price surge in the last 24 hours.
This may be the significant 5th week of the green candle march.

Cardano blockchain’s native token, ADA, has undergone a 5% price surge in the last 24 hours. Albeit all the Ethereum Shapella Upgrade hype, most of the altcoins in the crypto market are moving flat, but ADA, AVAX, UNI, and Dogecoin (DOGE) made quite an impact for the day. Each of the above-mentioned coins in the top 20 cryptos has seen a surge of over 4 percent.

More importantly, the Cardano token is the 7th continuous green candle (in day count) since January. And hopes are high for this week to break the pattern and start the 5 weeks green candle march. The token has not attained this note post-September 2021.

As for price analytics, Cardano has surpassed the existing resistance level of $ 0.4134, and the next resistance is set at $0.5698. The current RSI is marked at 53.28, indicating neither a sell nor buy signal. So it is difficult to understand the next movement of the ADA.

At press time, the trading price of ADA was $0.4146 with a market capitalization of $14,413,120,398. As per the official monthly on-chain report from the Cardano Foundation, the number of native token transactions is increasing along with the wallet count. To conclude, ADA has hopes for ending this week in green.

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