Cardano (ADA) Bounces Off Heavy Selling with 4.87% Gain

Cardano (ADA) is experiencing a temporary rebound after heavy selling, pushing its price up by over 4.87% to $0.1629.

The asset's daily trading volume has increased by 21% to $371.43 million, and it's now pressing toward the $0.16 zone.

A falling wedge is forming on Cardano's technical chart, with buyers defending the lower trendline aggressively as selling pressure weakens.

However, a confirmed breakout above the wedge resistance with volume would shift momentum back to stronger bulls and open the door to a steady recovery.