Cardano price jumped 6.07% on July 2, recovering from the critical $0.50 support level that has historically triggered reversals, though broader bearish trends persist.
Cardano ADA $0.59 24h volatility: 7.4% Market cap: $21.45 B Vol. 24h: $834.70 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 reclaimed the 0.5 Fibonacci retracement from the late-2024 low to the 2025 high. However, the RSI remains below the neutral 50 level, and a close above it is required to validate bullish momentum.
ADA Volume data | Source: Coinglass
Volume data shows $1.52 billion in daily turnover on July 2, one of the highest figures in recent weeks. Yet, despite the increased activity, price stayed anchored near $0.54, suggesting indecision or possible redistribution.
$6M Net Outflow Signals Accumulation Trend
ADA Spot Inflow/Outflow | Source: Coinglass
According to CoinGlass, ADA recorded a $6.02 million spot net outflow on July 1, indicating more tokens were withdrawn from exchanges than deposited. This is generally interpreted as long-term holders accumulating and reflects reduced short-term selling pressure.
However, the lack of price follow-through around $0.56 reveals weak immediate demand. The combination of exchange outflows and stagnant price hints at cautious optimism but not full bullish conviction.
Key Levels To Watch In The Short Term
Immediate resistance sits at $0.60–$0.62. A daily close above this zone could extend gains toward $0.66 and $0.72, which align with liquidity zones and trendline resistance. Some traders are even betting on a possible breakout above $3. However, for that to happen, ADA would need to rise 450.46%.
Cardano is pumping $ADA TO $3 SOON ? pic.twitter.com/p9E9RRXpOD
— Nala (@NALAp20) July 2, 2025
On the downside, failure to hold $0.52 may invite a retest of $0.48, with deeper support below at $0.42.
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