Cardano price analysis (Bullish) — 0.58 USDT (+6.39% 24h)

ADA is showing renewed strength with a 6.39% surge over the past 24 hours, pushing the price to $0.5777 as buying pressure intensifies. The current price sits comfortably above both the 20-day SMA ($0.5705) and 50-day SMA ($0.5489), indicating underlying bullish momentum. Trading volume exceeding $113 million suggests genuine institutional interest rather than retail speculation. The RSI at 49.22 remains in neutral territory, leaving ample room for upward movement before hitting overbought conditions. However, traders should note the elevated 5.28% volatility reading, which signals potential for sharp price swings. For active positions, consider entering near $0.570 support with stops below $0.548. The next resistance levels to watch are $0.60 and $0.65, which could trigger profit-taking if reached. Position sizing remains crucial given ADA’s characteristic volatility patterns.