Cardano Price Hovers Near Resistance Amid Bounce

Cardano's price has bounced off $0.1535 and is currently trading at $0.1638, marking a 6.7% recovery from its swing low.

This bounce has shifted momentum in favor of buyers, but the key level to watch is $0.1751, which served as resistance during early July's post-spike recovery.

A clean 3-hour close above this level would break the sequence of lower highs and put the $0.180 area back in play, with a potential target of reclaiming its July high at $0.200.

The bearish scenario is equally well-defined, with a loss of $0.1488 leading to further support levels at $0.1424, which could signal a return to multi-year lows.