Cardano (ADA) is actively testing the crucial $0.60 price level, a significant technical threshold identified as key for enabling further upward momentum. Analysts suggest a successful breakout above this resistance could propel ADA towards the $0.66–$0.70 range.
The push towards resistance coincides with a substantial 79% surge in ADA’s trading volume over the preceding 24 hours, reflecting renewed market interest. Cardano’s market capitalization concurrently rose to $21.21 billion, aligning with a broader recovery trend observed among major alternative cryptocurrencies.
Technical indicators add to the bullish sentiment. Cardano’s Relative Strength Index (RSI) climbed above 43, indicating a notable move away from oversold territory observed earlier. Market participants widely signal this as a positive development.
Traders anticipate that a confirmed daily closing price above $0.60 is essential to validate the breakout attempt. Failure to achieve this could lead to price consolidation or retracement.