Cardano (ADA) saw a slight dip of over 6% on Thursday, but it has still managed to maintain an impressive surge of nearly 40% over the past week. The cryptocurrency spiked to $1.15 following its inclusion in the US crypto strategic reserve, but it has been struggling to stay above the $1 mark in recent days, prompting some users to question its inclusion and its effect on its price.

The current situation for ADA is uncertain, as whale accumulation has slowed down and breaching the $1 resistance level has proven to be a tough challenge. The next move for ADA hinges on the possibility of a return of bullish momentum or if selling pressure will drive its value down further.

Despite the decline in the ADX indicator from 43.7 to 32.5 in the last three days, the uptrend for Cardano remains robust. The Average Directional Index is still above the 25 threshold, indicating that the momentum is still present, although slightly weaker than before.

The number of Cardano whales holding between 1 million and 10 million ADA has slightly decreased after a notable increase earlier in March. The current count stands at 2,463, suggesting that some larger holders have reduced their positions recently. Monitoring these whales is crucial as they can significantly impact market dynamics, and the slight decrease may influence ADA's future price movements.

Despite the positive trend indicated by Cardano's EMA lines, the cryptocurrency has been facing resistance at the $1 level. The struggle to break above $1 indicates that while momentum is still present, surpassing this resistance point remains a challenge.

If the current uptrend shifts to a downtrend, ADA could test support levels at $0.818, potentially dropping further to $0.75 or even $0.63. On the flip side, if positive momentum picks up, ADA may retest $1, with a breakout potentially propelling its value towards $1.17, a level close to the peak reached during the March 2 surge.