Cardano Price Surges 15% to $0.78 Amid Potential Recovery

Cardano (ADA) has experienced significant volatility, with a price decline of over 61% since early December. Recent trading saw a 15% breakout, pushing the price to $0.78, but resistance remains at $0.85.

Key points:

ADA must maintain its current price level to confirm recovery.
Analyst Ali Martinez suggests potential movement towards $0.83 if momentum continues.
Holding above the 200-day EMA at around $0.72 is crucial for long-term strength.
Failure to hold above key levels may lead to renewed selling pressure.

The next few days will be critical in determining ADA's ability to build on its recent gains and challenge higher resistance levels.