- ADA rose over 6% in 24 hours, peaking at $0.611 amid a surge in volume and broader crypto market momentum.
- Technical signals show both bullish and bearish elements, with strong intraday support at $0.588 but waning on-chain activity and rising exchange outflows.
- Macro uncertainty and political developments, such as Trump’s tariff stance, add further volatility to ADA’s short-term outlook.
Cardano‘s native token ADA saw a sharp price surge of over 6% in the last 24 hours, trading around $0.5996 as of early July 3. The upward move came on the back of renewed market-wide momentum and a spike in trading volume overnight. At its peak, ADA hit $0.611, showing signs of bullish potential. But not all analysts are convinced this is the beginning of a new uptrend—some caution that on-chain data paints a more bearish picture.
Mixed Sentiment as Analysts Debate ADA’s Next Move
On one hand, technical setups hint at a bullish reversal, with upside targets between $0.70 and $0.72. However, on-chain signals offer some concern. Active wallet counts have been on the decline, and significant exchange outflows point to reduced speculative activity. These data points suggest that while traders are reacting to the broader crypto rally, underlying fundamentals for ADA may still be shaky in the near term.
Technical Breakdown: Support and Resistance in Play
ADA kicked off the day strong, rising 5.69% to $0.611 by 08:00 UTC. High-volume buying around $0.590 during the early morning helped set the tone. But resistance at $0.609 emerged midday, triggering profit-taking and a brief dip. A sharp sell-off at 15:35 UTC pushed prices to a session low of $0.588 on 7.5 million in volume, establishing short-term support. The session ended with a slight rebound, closing at $0.589, hinting that bearish momentum may be cooling off.
Macro Factors Add Uncertainty
Beyond the charts, macroeconomic forces are at play. President Trump’s tariff policies are adding new layers of uncertainty, affecting investor sentiment across both traditional and digital assets. With July just kicking off, traders are watching for signs that ADA’s recent movement is either the beginning of a sustained rally—or just another short-lived bounce within a volatile market.
