Cardano Up 5% To $0.5: Is ADA About To Rebound?
Cardano (CRYPTO: ADA) rose about 5% on Wednesday to trade near $0.54, as traders positioned for a potential rebound.
Price Finds Support But Faces Heavy Resistance
ADA Price Action (Source: TradingView)
Cardano is attempting to stabilize near the $0.52–$0.50 demand zone after briefly dipping below it earlier this week.
Buyers stepped in quickly, highlighting that this area continues to attract defense.
Despite the bounce, ADA remains trapped beneath a descending trendline drawn from its September peak, keeping the broader structure bearish.
All major EMA’s are stacked above price between $0.6260 and $0.7427, forming a dense resistance cluster that has repeatedly rejected rallies.
The Supertrend indicator also remains red, reinforcing that sellers still control momentum.
Until ADA closes decisively above these …
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