Cardano (ADA) has been gaining momentum in the last week of trading, as seen both in the 10.18% price rise to $0.1904, and in the 380% surge in futures volume from $150 million to $650 million.
Cardano one-week price chart. Source: Google
Still, the cryptocurrency appears to be facing both a risk and an opportunity near $0.20 to break out in either direction, as it is $0.020 away from its nearest support at $0.1884 and only a slightly larger $0.063 away from its next resistance at $ 0.1967.
Additionally, though ADA’s latest move appears to indicate either a break below or a bounce off of the nearest support, the digital asset has two potential bullish catalysts within the next three days.
Why Cardano price can soar this week
Specifically, the U.S. Congress has two days left to schedule the hoped-for vote on the CLARITY Act – a piece of legislation set to resolve the legal tensions and uncertainties the cryptocurrency industry is facing in the United States.
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