Cardano (ADA) Eyes Recovery Amid Market Volatility

Cardano (ADA), the ninth-largest cryptocurrency by market cap, is trading around $0.68 as the broader crypto market continues to experience high volatility. Over the past 48 hours, ADA has seen significant price swings, briefly rallying 6% on Tuesday before encountering selling pressure. Despite this, ADA managed to close the day in the green, suggesting growing buyer interest at lower levels.

After dipping to a low of $0.663 early Wednesday, Cardano rebounded to intraday highs of $0.69, supported by renewed accumulation. This bounce comes after ADA found a key support level near $0.63 on March 31, from which it has gradually recovered. If ADA closes today in positive territory, it will mark the third consecutive day of gains, signaling potential for sustained upward momentum.

However, ADA remains down 7.87% on the week despite its recent rebound. Traders are closely watching whether ADA can maintain this recovery and challenge overhead resistance levels. Key resistance lies at the 50-day and 200-day moving averages at $0.73 and $0.75, respectively. Breaking through these could open the door for a run toward the psychological $1 mark.

On the downside, a failure to hold above current levels could lead to a retest of the $0.63 support. A break below that level might drag ADA further down toward $0.60 or lower.

As the crypto market stabilizes, investors are looking for confirmation of ADA’s bullish reversal. Momentum, volume, and broader market sentiment will be critical in determining whether Cardano can extend its rally or face renewed selling pressure.