TL;DR
- ADA rose 7% in 24 hours, moving from $0.2546 to $0.2916, but remains down 22% in 30 days and over 5% weekly.
- Bitcoin’s jump from $62,000 to $66,000 and a hold above $65,000 is seen as the gating factor for ADA’s reversal as volume stays positive.
- Cardano volume rose 0.94% to $413.38M; traders watch $0.26 support, $0.28-$0.30 zone, and open interest after dipping below $500M to avoid a dead-cat bounce.
Cardano (ADA) is plotting a modest comeback after an intense February sell-off, jumping about 7% in the last 24 hours as traders weigh whether the move is sustainable or simply a dead cat bounce. The bounce is notable, but confidence is still constrained. Over the past 30 days ADA is down more than 22%, and it is off over 5% in seven days. In the latest push, ADA climbed from a daily low of $0.2546 to a peak of $0.2916, briefly leading the altcoin tape and reigniting talk of bulls getting trapped for risk managers.
Risk appetite returns, but support must hold
The rebound has been largely beta-driven, with Bitcoin lifting broader sentiment as it rose from around $62,000 to $66,000 and cleared the $65,000 resistance level. Bitcoin’s direction remains the gating factor for ADA follow-through. As reflected on CoinMarketCap’s chart, traders see the reversal holding better if BTC stays above $65,000 and helped restore broader appetite for riskier assets like altcoins. ADA later traded near $0.2693, up 4.78% after slipping from earlier highs, signaling buyers are active but still meeting supply. Even with the pullback, trading volume stayed positive during the risk-on rotation across altcoins today.
Volume is now the KPI traders are underwriting for validation. Cardano’s 24-hour volume rose 0.94% to $413.38 million, and the market is watching whether ADA can defend the $0.26 support level. Execution depends on volume plus a firm floor. If price holds above $0.26 while turnover remains elevated, the move can look less like a reflex bounce and more like a base. This helps keep the rally from reversing fast. The $0.28 to $0.30 zone is also flagged as a crucial support band, where ADA traded before mid-February’s uncertainty-driven drop reset positioning and risk limits.
Derivatives positioning will help decide whether the rally extends or fades. Open interest previously dipped below $500 million as traders turned cautious, and a rebound is viewed as supportive if ADA tries to build on the spike. Dead cat bounce risk stays live until leverage and spot align. A dead cat bounce is a sharp, temporary recovery after a major decline that can trap late buyers when the downtrend resumes. For ADA, the base case improves if BTC holds above $65,000 and altcoin risk appetite remains intact rather than evaporating quickly again over coming sessions.
