Cardano (ADA) value is witnessing a notable bounce on Monday, as market sentiment improves amid geopolitical developments. After opening lower, the price quickly recovered to hit the session’s high, gaining momentum once the U.S. trading session began. As the second round of ceasefire talks between Russia and Ukraine is on the horizon, bullish momentum seems to be building.

ADA Registers Strong Intraday Recovery

• ADA price moves higher after early weakness.
• A decisive close above the descending trend line could open further upside.
• Momentum oscillators show signs of bullish bias.

As of press time, ADA/USD is trading at $0.92, marking an 8.04% intraday gain. The eighth-largest cryptocurrency’s 24-hour trading volume stands at $1,749,217,632 — a significant surge of over 70%, according to CoinMarketCap.

Cardano Targets Upside Reversal

On the daily chart, Cardano has been in a persistent downtrend since January 18. After struggling for weeks, the price is now signaling an early attempt at reversal. The descending trend line from the $1.64 highs remains a key resistance level for bullish traders.

In a previous attempt, bulls failed to break above the bearish sloping line at $1.28, leading to a 45% retracement down to the swing lows of $0.74. Since then, ADA has been consolidating near the dependable support level around $0.80.

If bullish momentum accelerates, ADA could break above the descending trend line. The first upside target is set near $1.00, followed by a potential move to the February 16 high at $1.11. Beyond that, the $1.97 horizontal resistance remains the key barrier to a stronger rally.

Potential Downside Scenarios

While the bulls are showing signs of strength, the market remains volatile. A sudden spike in sell orders could drag ADA back toward the session low at $0.84. If that level fails to hold, further downside could test the February 24 lows of $0.74.

This zone will be crucial to watch as it has acted as strong support in the past. A break below it could invalidate the near-term bullish outlook and trigger a deeper correction.

Technical Indicators Point to Optimism

• RSI: The Daily Relative Strength Index (RSI) is currently at 43, trading just above the midline. This suggests a gradual shift toward bullish momentum.
• MACD: The Moving Average Convergence Divergence (MACD) remains below the midline but reflects a positive bias, indicating growing buying interest.

Final Thoughts

Cardano is showing early signs of recovery as it approaches the critical $1.00 mark. A strong daily close above the descending trend line could pave the way for a more sustainable rally toward $1.11 and possibly higher levels.

However, traders should remain cautious as geopolitical tensions and market volatility continue to influence crypto sentiment. The $0.84–$0.74 zone will act as a strong support area, while $1.00 remains the key breakout level to watch.

FAQs

Q1. What is the current price of Cardano (ADA)?
As of the latest update, Cardano (ADA) is trading around $0.92, up over 8% in the past 24 hours.

Q2. What price level is crucial for ADA’s bullish breakout?
A decisive daily close above $1.00 could signal a strong bullish reversal and open the door toward $1.11 and $1.97 resistance levels.

Q3. What support levels should ADA holders watch?
Key support levels lie at $0.84 and $0.74. A break below $0.74 could weaken the bullish outlook.

Q4. Why is the ADA price rising now?
ADA’s recent upward momentum is partly supported by improved market sentiment as geopolitical talks between Russia and Ukraine progress, along with growing technical strength.

Q5. Is Cardano (ADA) a good investment right now?
While ADA shows signs of recovery, cryptocurrency investments remain volatile. Traders should watch key technical levels and stay updated on global developments before making investment decisions.