Summary:

Cardano (ADA) has experienced a surge in price, rising by 24% over the past week. The ADA price trend is currently trading above $1 and shows a potential bullish flag formation. The breakout from a falling channel and the golden crossover between the 50 and 200 EMA lines indicate bullish momentum. However, the 4-hour RSI suggests underlying weakness. The resistance at $1.117 limits bullish growth, but a breakout at the 23.60% Fibonacci level could push the price towards $1.394. The declining RSI also points to the possibility of a retest of the $1 psychological level. Overall, Cardano's fate is tied to the broader market recovery and improving sentiment suggests further upside potential for altcoins like ADA.



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