Cardano Price Holds Steady at $0.20: Will Breaking $0.28 Decide ADA's Recovery?

Cardano's price has held steady at $0.20 after a 2.42% rally in the past 24 hours, accompanied by an increase of 2.5% in Open Interest.

The altcoin has surged 17.7% over the past month, with its gains closely tied to Bitcoin's recent rally above $80k.

While Bitcoin fell back below $80k, Cardano's price continued to hold onto the $0.20 support zone.

Despite this stability, analysts warn that the altcoin's recovery hinges on breaking through a key overhead supply zone at $0.26-$0.28.

The 20-week Moving Average has been flipped to support, with Cardano's price now above $0.198, but still below the aforementioned supply zone.