Key Insights
- Cardano surged over 10%, holding firm above $0.50 as retail investors stepped up accumulation.
- Whales offloaded 4 million ADA, but selling pressure eased while smaller holders entered the market.
- Technical indicators show signs of growing momentum, with resistance eyed at $0.60 and beyond.
Cardano (ADA) posted a strong recovery in the past trading session, climbing more than 10% to reach $0.5626. The digital asset showed strength after a volatile week across the broader crypto market. Buyers stepped in to defend the $0.50 support zone, allowing ADA to regain lost ground.
Rising accumulation among smaller holders has emerged as a key factor in Cardano’s latest price action. Although large holders offloaded approximately 4 million ADA tokens earlier in the week, retail buying appears to be offsetting the sell pressure. This accumulation trend suggests a potential shift in sentiment as market confidence begins to recover.
Technical Indicators Reflect Building Momentum
Price action on the 4-hour chart indicates ADA is now trading within a tightening range between the $0.50 support and $0.60 resistance. The Moving Average Convergence Divergence (MACD) indicator shows a mild bullish crossover, while the Relative Strength Index (RSI) remains steady near 52, pointing to balanced momentum.
The broader crypto market rebounded by 0.73%, supporting Cardano’s upward move. Growing open interest and higher derivatives activity further underline the positive sentiment. With buyers gradually returning, bullish momentum may accelerate if ADA maintains levels above $0.55 in the coming sessions.
Next Resistance Levels Under Watch
If the price holds above current support, resistance levels are expected near $0.70, $0.80, and potentially $1.00. However, failure to remain above $0.55 may lead to a pullback toward $0.50 or even $0.45. For now, technical and market indicators lean toward an optimistic short-term outlook.
