Cardano (ADA) Tests Critical Zone After 4.87% Price Jump

Cardano (ADA) has been testing a critical zone after experiencing a 4.87% price jump to $0.1629, with its daily volume rising 21% to $371.43 million.

The asset had bounced from a low of $0.1534 and was seen testing resistance near $0.16-$0.17, with micro resistance concentrated between $0.164 and $0.175.

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

The four-hour technical chart analysis shows that Cardano's Moving Average Convergence Divergence line is above the signal line, indicating short-term buying momentum picking up.