Cardano Bulls Target $0.50 Retest After Bouncing Off 20-Day SMA

Cardano's price action just flashed a classic technical signal—and the bulls are already licking their chops.

The SMA Bounce: A Bullish Omen?

ADA didn't just touch its 20-day Simple Moving Average; it used it as a springboard. That's the kind of behavior traders watch for, suggesting underlying strength isn't just a rumor. Now, the entire conversation shifts from support to the next major hurdle.

All Eyes on the Half-Dollar Mark

Forget whispers. The next target is a shout: the $0.50 resistance level. A clean break above that could open the floodgates for a more sustained move, turning skeptical onlookers into frantic buyers chasing the pump. It's the crypto market's favorite pastime—watching a number until it breaks.

The path seems clear: hold above the SMA, gather momentum, and launch an assault on the key psychological barrier. Of course, this assumes the usual cast of characters—whales, macro news, and that ever-present fear of missing out—play along nicely. As any seasoned trader will tell you with a cynical smirk, in crypto, the only sure thing is the fee you just paid.

Cardano is testing its 20-day SMA after a strong rebound, but a break above the upper Bollinger band must ensue to extend the recovery. Today, Cardano is holding a strong intraday tone after an aggressive upward push, trading near the top of its session range.

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