Cardano (ADA) Rebounds Amid Trump-Musk Feud and Market Volatility

Cardano (ADA) is showing signs of resilience as the broader cryptocurrency market reels from growing tensions between former President Donald Trump and Elon Musk, his ex-administration official. The public spat has triggered a wave of volatility, dragging major cryptocurrencies into sharp swings, including ADA.

After plunging from $0.688 to a low of $0.621—a drop of over 10%—ADA found strong support, with buyers stepping in aggressively around the $0.620-$0.623 range. The rebound has since formed an ascending channel, with key resistance noted at $0.644. At the time of writing, ADA is trading at $0.66, down 1.8% in the past 24 hours, while the CoinDesk 20 Index fell 1%.

Despite the market turbulence, ADA's recent recovery shows potential for renewed bullish momentum. Technical indicators suggest reduced volatility and a potential upward push, especially as the token reclaims the $0.640 level. Hourly price action reflects a possible recovery trend from $0.641 to $0.643, with short-term resistance now between $0.643 and $0.644.

Adding to ADA’s momentum is growing institutional interest. Franklin Templeton, a global asset manager with $1.6 trillion in AUM, has begun operating Cardano nodes. Furthermore, Norwegian exchange NBX has partnered with Cardano to develop Bitcoin-based DeFi applications, underscoring the network’s appeal for secure and scalable infrastructure.

The successful execution of the first Bitcoin-to-Cardano transaction using Ordinals also marks a major milestone, opening the door to an estimated $1.5 trillion in cross-chain liquidity opportunities.

With both technical and fundamental catalysts in play, ADA remains one of the most closely watched altcoins in this turbulent crypto environment.