Cardano Rebounds from Intraday Lows as Bulls Defend Key Support
Despite market-wide uncertainty, Cardano (ADA) is showing signs of strength, recovering sharply after dipping to intraday lows. The token bounced from $0.676 to reclaim the $0.697 level in a V-shaped rebound, driven by a spike in overnight buying volume.
According to CoinDesk Research, the strongest support was found at $0.684, where ADA registered 24-hour volume of 45.7 million, suggesting aggressive accumulation by dip buyers.
At last check, ADA traded at $0.68, down 0.45% in the past 24 hours, while the CoinDesk 20 Index posted a 2.1% decline, reflecting broader risk-off sentiment.
Key Takeaways:
- Rebound Pattern: Price action reversed sharply from $0.676, signaling a potential short-term bottom.
- Volume Strength: Significant support was accompanied by high volume, boosting confidence in the recovery.
- Resistance Target: ADA is eyeing a move toward $0.702, with intermediate resistance at $0.697.
- Trend Formation: A series of higher lows in early U.S. hours suggests bullish intent as trading activity peaked at 1.17 million.
While the macro backdrop remains fragile, ADA’s price action points to renewed momentum — especially if buyers maintain control above $0.684.
