Cardano Forms V-Shaped Recovery as Price Reclaims $0.697 Level
The cryptocurrency market is influenced by global economic factors, affecting digital assets. Cardano's ADA has shown resilience, forming a V-shaped recovery pattern after strong support at $0.684, supported by significant buying volume.
Current statistics:
- ADA is down 0.45% in the last 24 hours, trading at $0.68.
- CoinDesk 20 Index decreased by 2.1%.
Technical Analysis Highlights
- V-shaped recovery from $0.676 to $0.697.
- Strong volume support at $0.684, with 24-hour volume of 45.7 million.
- Potential continuation towards $0.702 resistance level.
- Clear uptrend with higher lows during early U.S. morning hours, peaking at 1.17M volume.
- Volume supported breakout above $0.697.