Cardano's ADA coin surged 22% this week, rising above the $1 resistance level by breaking a symmetrical triangle pattern. The increase is driven by strong demand for ADA, suggestive of further possible gains.
The breakout from the symmetrical triangle pattern indicates a shift in market sentiment, tipping the scales towards a bullish trend. The RSI and Elder-Ray Index readings support this optimism, revealing strong buying pressure.
ADA is currently valued at $1.12, slightly above its previous resistance level of $1.03. If demand continues, ADA could reach a high of $1.34; otherwise, it could revert to $0.94 within the triangle.
![Cardano [ADA] Shows Promise with Breakout Potential Amid Strong Fundamentals and Rising Market Engagement](https://loutre.blockchair.io/w4/storage/news/ctag.png){kind=small}
