Cardano surged earlier this week, but has now hit a major resistance. 📉

The price rose rapidly from the 31 cent support level to the 37 cent resistance level. However, as it approached this resistance, sellers stepped in and pushed the price lower.

On the short-term charts, momentum is down. However, the price could recover to around 34 cents and retest the 37 cent resistance.

On the weekly chart, buyers are still dominant. Buyers have dominated in four of the last five weeks. The momentum could swing back in the bulls’ favor, but only if the price breaks above 37 cents. 🚀