Cardano’s sharp recovery from the $0.53 zone has lifted Cardano price today above the $0.60 mark, a critical psychological level. After weeks of sustained selling pressure, ADA price has staged a short-term reversal, breaking multiple intraday trendlines and reclaiming a key support structure. However, signs of buyer exhaustion are beginning to emerge near resistance around $0.613.

What’s Happening With Cardano’s Price?

The 30-minute chart reveals a vertical rally that initiated from the $0.545 region on July 2, following a failed breakdown and liquidity sweep below the $0.555 support band. This move broke a major descending trendline and flipped multiple supply zones into support, most notably the $0.582–$0.590 region.

On the daily chart, Cardano price action shows ADA attempting to exit a falling channel that has trapped it since May. A bullish candle close above the upper bound of this channel would confirm a breakout and expose higher resistance levels at $0.648 and $0.679 (R4 and R5 pivot points). Still, ADA needs to hold $0.590 on retests to avoid falling back…

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