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Cardano Rebounds Sharply as Buying Volume Supports Key Price Level
Cardano’s ADA token posted a swift recovery on Tuesday, bouncing from recent lows in what analysts described as a V-shaped price reversal. The rebound came after the asset found solid support at $0.684, backed by surging volume amid broader market jitters.
Despite a broader decline in crypto markets—reflected in the CoinDesk 20 Index’s 2.1% drop—ADA managed to erase early losses, recovering from an intraday low of $0.676 to test resistance at $0.697.
At last check, ADA was trading at $0.68, down a modest 0.45% over 24 hours.
Key Technical Insights:
- Support Held: $0.684 saw the day’s strongest buy zone with 45.7M in volume.
- Upside Target: ADA is eyeing a move toward $0.702, a short-term resistance level.
- Bullish Structure: A series of higher lows and a volume breakout above $0.697 suggest bullish intent.
- Morning Momentum: Trading activity peaked in early U.S. hours, with volume spiking to 1.17M.
While global macro factors continue to inject uncertainty, ADA’s swift rebound hints at strong investor conviction—especially if it maintains traction above support.
