Cardano (ADA) Path To Recovery: Can It Fuel a Strong Rally?

Cardano's price has risen after finding support near $0.3050, aiming for gains above $0.3360. The price is trading above $0.320 and the 100-hourly simple moving average, indicating a recovery. A break above a bearish trend line at $0.3245 on the hourly chart suggests further upside potential. Resistance is expected near $0.330, with key levels at $0.3360 and $0.3450. If Cardano fails to surpass $0.3360, it may decline to $0.320 or $0.3120. Technical indicators suggest bullish momentum, with the MACD gaining momentum and the RSI above 50. Overall, Cardano shows signs of recovery, with potential for further gains if it can break above $0.3360.