ADA Surges 4.24% After $50M Liquidations: Will Cardano Hold Above $0.50 Amid Volatility?

Cardano (ADA) has experienced notable volatility in the past 24 hours, with the price rising 4.24% to $0.5529 on Binance after opening at $0.5304. This price rebound follows significant liquidations of over $50 million in ADA long positions near the $0.60 level, driven by increased market volatility linked to geopolitical tensions and macroeconomic uncertainty. Technical factors, including ADA reaching oversold conditions and forming a “falling wedge” pattern, have contributed to renewed buying interest and a minor recovery from session lows around $0.516. Trading volumes have increased as traders react to these developments, with ADA’s market capitalization now approximately $19.56 billion and circulating supply at 35.68 billion coins. The market remains focused on whether ADA can maintain support above $0.50 amid mixed sentiment and ongoing technical and fundamental catalysts.