Cardano (ADA) shows signs of short-term recovery, breaking out of a falling wedge pattern on its 4-hour chart. The price has reclaimed a key trendline and surged over 5% to trade near $0.2546, supported by a doubling in daily trading volume. Analysts identify the $0.23–$0.25 zone as critical support, with potential for a move toward $0.27–$0.29 if bullish momentum holds.
Cardano’s price increased by over 5% on Monday, April 6, reaching approximately $0.2546. The trading volume saw a strong surge of 100.7%, according to data from CoinMarketCap.
Analyst Alpha Crypto Signal stated ADA confirmed a breakout from a falling wedge pattern on lower timeframes. The price has now reclaimed the upper trendline and is pressing into a former supply zone.
Another analyst, UniChartz, mentioned the $0.23–$0.24 range has acted as a strong historical support base. They noted the overall higher timeframe trend still appears weak, with potential for more downside if support breaks.
Data from CoinGlass shows a 57% surge in futures volume to $649 million. Open interest also grew by over 10%, signaling increased market participation.
The Relative Strength Index reads at 49.03, approaching neutral territory from lower levels. The MACD histogram shows a slight decrease in bearish momentum.
