Cardano (ADA) staged a sharp rebound, rising 7% in 24 hours after weeks of steady losses. The token moved from $0.2546 to a session high of $0.271, trimming its February decline. Despite the bounce, ADA still remains more than 22% lower over the past month.
Bitcoin Clears $66K, Lifting Altcoins
The recovery followed a broad improvement in risk appetite across the crypto market. Bitcoin rallied from $62,000 to above $65,000 before touching $66,000. As BTC cleared resistance, several large-cap altcoins advanced in tandem. Cardano tracked that move and outperformed parts of the broader market during the same period. ADA currently trades near $0.2693, slightly below its intraday peak, but firmly above the $0.26 support level.
Volume Ticks Up to $413 Million
Trading activity supported the price move. Cardano's 24-hour volume climbed 0.94% to $413.38 million, signaling sustained participation from buyers. Higher volume during price advances often reflects stronger conviction among market participants. However, derivatives data indicates that open interest needs to recover further to strengthen the rally. Earlier in the month, open interest slipped below $500 million as traders reduced exposure during the downturn.
$0.28-$0.30 Zone Becomes Key Hurdle
The $0.28 to $0.30 range now stands as an important technical zone. Cardano traded within this band before mid-February selling pressure pushed prices lower. A return to that area would mark a meaningful shift in short-term structure. Large holders accumulated 819 million ADA during the broader decline, suggesting steady positioning despite price weakness. Their activity adds context to the recent bounce and highlights continued engagement from major participants. Although some traders remain cautious after February's drawdown, current price action reflects stabilization rather than renewed selling pressure. Bitcoin's ability to hold above $65,000 continues to influence short-term direction across altcoins. If momentum persists and participation expands, Cardano may extend gains toward the upper resistance band; otherwise, a retest of $0.26 support remains possible.