Despite a recent rebound above the psychological threshold of $0.60, Cardano (ADA) remains under bearish pressure. Market data and technical analysis suggest that sellers maintain the short-term advantage.
Cardano Attempts to Preserve Key Level of $0.60
Cardano started a rebound on April 16 after hitting a low of $0.595. Previously, the price had recorded three consecutive days of decline since its recent peak of $0.668 reached on April 13. During Thursday's session, ADA peaked at $0.629 before stabilizing.
Technical Improvements Amid Changes
During this period of volatility, the Cardano development team continues its technical progress. A new node version, Node 10.3.1, has been released, bringing notable improvements including increased performance and optimized execution speed.
Market Overview and Future Prospects
Technical analysts identify several key areas to watch. On the upper level, sellers are likely to exert significant pressure on buyers if the price falls below the $0.58 support level. A break below this level could lead to a swift drop towards the psychological barrier of $0.50.
Despite price fluctuations, Cardano continues to strengthen its technical fundamentals. The market remains attentive to price direction in the coming days.
