This post was originally published on Coinspeaker
Key NotesADA’s bounce from $0.50 demand zone mirrors previous February and April reversals, reaching the upper boundary of its six-week decline.RSI recovery to 43.12 shows early momentum shift, but confirmation requires a decisive break above the neutral 50 threshold for sustained bullish validation.Exchange outflows of $6.02 million indicate accumulation behavior, though muted price response suggests cautious market sentiment rather than strong conviction.
Cardano ADA $0.59 24h volatility: 9.0% Market cap: $21.47 B Vol. 24h: $844.51 M price rose 9% on July 2 to trade at $0.5960, rebounding from the $0.50 demand zone that previously triggered reversals in February and April. This recovery brings ADA back to the upper edge of a six-week falling channel, signaling early bullish intent.
ADAUSD price dynamics | Source: TradingView
While the broader trend remains bearish on the higher timeframe, this local bounce shows buyers defending a key historical support. To shift structure decisively, bulls must reclaim the $0.60–$0.62 resistance band that marks the top of the descending channel.
RSI Turns Higher But Momentum Lacks Conviction
The RSI has climbed to 43.12, showing early recovery from oversold conditions. Price action has also
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