Cardano price analysis (Bullish) — 0.80 USDT (+0.17% 24h)

Cardano (ADA) is showing strong momentum with a significant 17.5% surge over the past 24 hours, currently trading at $0.8021. The price action has pushed ADA above both its 20-day SMA ($0.7982) and 50-day SMA ($0.7990), indicating bullish near-term momentum. The RSI reading of 63.4 suggests the asset is approaching overbought territory but still has room for further upside before hitting extreme levels. Trading volume of over $71 million demonstrates solid institutional interest and confirms the strength behind this move. Volatility remains elevated at 3.18%, which is typical for assets experiencing strong directional moves. For traders, consider buying on pullbacks toward the $0.795-$0.800 support zone with stops below $0.785. Resistance appears around $0.82-$0.85, where profit-taking may occur. The technical setup favors continued upward movement, though caution is warranted given the rapid appreciation.