Cardano Price Analysis: Bulls Eye Further Resistance at $0.50

Cardano is experiencing a strong rebound, testing its 20-day moving average (SMA) after recent declines. A break above the upper Bollinger band would signal a sustained recovery, leading to another attempt at resistance around $0.50. 24 hours ago, ADA traded between $0.39 and $0.45, ultimately showcasing a sharp upward movement with a 14.9% gain over the last day, while maintaining a positive 7-day performance of nearly 5%. Despite recent corrective phases, this renewed bullish momentum is evident in the current price action. 20-Day SMA levels acted as a first major resistance zone, currently being tested by bulls who seek to push prices further up.