Cardano (ADA) Price Surges 6% Amid Recent Developments

• The ADA price increased by 6% in a single day after the alpha release of Aiken.
• The price of ADA has recently broken above the resistance level from October.

As a result of a number of developments on the Cardano network, the price of Cardano (ADA) is making a big upward surge and breaking over important levels. The ADA price increased by 6% in a single day after the alpha release of Aiken, Cardano’s programming language and tools for facilitating the development of smart contracts on the Cardano network.

On Saturday, the price of Cardano (ADA) achieved a 24-hour high of $0.46. Higher highs, an RSI rising above 70, and an upwardly trending ADA price all point to a bullish continuation in the daily chart.

Strong Bullish Momentum

As per analysts in the Cardano community, the price of ADA has just broken above the level from October, when it first began to decline below the $0.33 crucial support level.

After breaking over the $0.428 resistance and forming an inverted head and shoulder pattern, analysts forecasted that the price of ADA will surge by 40%, reaching $0.60. The next stop for ADA might be around $0.52, after which it may go higher toward $0.60.

Cardano whales are buying up a ton of ADA as the cryptocurrency prepares for a breakthrough and a possible subsequent strong rise to $1. The value of the ADA tokens added by the “whale address” is $218 million. 

Moreover, Cardano passed the 4 million wallet milestone at the end of March.  Many see Cardano as an improved blockchain and think its advances are in line with Ethereum’s. According to CMC, the Cardano price today is $0.450023 USD with a 24-hour trading volume of $584,554,827 USD.