Cardano price analysis (Bullish) — 0.71 USDT (+10.00% 24h)

Cardano (ADA) is showing impressive momentum, surging 10% over the past 24 hours to trade at $0.7139 with substantial volume exceeding $158 million. The rally positions ADA above both its 20-day SMA ($0.692) and 50-day SMA ($0.664), confirming a bullish near-term structure. However, the RSI reading of 67.7 suggests ADA is approaching overbought territory, which could trigger near-term consolidation. Volatility remains elevated at nearly 8%, indicating significant price swings are likely. Traders should consider taking partial profits near resistance at $0.72-$0.75 while maintaining core positions. For new entries, wait for pullbacks toward the $0.68-$0.69 support zone. The high volume confirms institutional interest remains strong, but risk management is crucial given the extended technical readings. Monitor Bitcoin’s broader market direction for correlation cues.