Cardano traded around $0.24 as bulls looked to bounce higher.
Bitcoin’s uptick could boost ADA price to above $0.30.
ADA trends with bearish bias and entrenched bears could plunge prices to new lows.
Cardano (ADA) price is up nearly 3% on Tuesday morning, trading around $0.24 as bulls struggle to mirror broader market gains.
While Bitcoin and Ethereum have climbed above $74,700 and $2,300 respectively, to hit multi-week highs, ADA is hovering at a key supply zone following a recent sharp pullback.
However, could ADA shed the bearish bias and ride a broader upside momentum? Or are bears so entrenched to leave Cardano facing deeper losses?
Cardano price today
ADA has gained about 3% over the past 24 hours, reaching $0.24 amid selective altcoin strength.
In comparison, Bitcoin surged over 5% to $74,552, Ethereum hovered near $2,194 after a minor dip, and Solana traded around $80 with limited upside.
Cardano derivatives data points to a slight bullish shift, with funding rates flipping positive in recent sessions and open interest climbing to roughly $436 million from $405 million on April 6.
This uptick in open interest reflects growing trader interest, though volumes remain cautious below recent peaks.
Bulls are defending the $0.24 zone, but failure here could trigger profit-taking aligned with broader market volatility.
ADA technical outlook
Cardano’s price action shows resilience at current levels, testing the upper trendline of a descending channel on the daily chart.
The token sits near its 50-day exponential moving average around $0.26, a pivotal level for any sustained recovery.
Holding above $0.24 keeps short-term hopes alive, bolstered by improving derivatives sentiment.
Yet, the broader technical picture leans bearish on higher timeframes, with RSI lingering below 50 and signaling potential for deeper pullbacks.
Cardano price forecast: Can ADA jump to $0.30?
Cardano may be struggling, but ADA has continued to attract dip-buying.
An example is wallets with at least 10 million ADA tokens, which have recently jumped to a 4-month high.
Santiment pointed to a 5.2% rise in 9 weeks, significantly up since prices bottomed on February 5, 2026.
Whale activity suggests a push to $0.30 remains plausible.
If ADA taps Bitcoin’s momentum, targeting the 100-day EMA as key overhead resistance.
Bulls have retested the level on four occasions since early February, with price consolidating at current levels over the past week.
Breaking the 50-day EMA at $0.26 first would validate the above outlook, potentially drawing in fresh longs amid rising open interest.
At the moment, positive funding rates further support the scenario, with further strength likely if shorts continue to pay longs.
On the flip side, entrenched bears could dominate if $0.24 gives way, eyeing notable support near $0.22. This will align the altcoin with channel downside projections.
