Cryptonews - The Cardano coin has successfully found support at the level of $0.70 with bulls attempting to reverse its downward trend.

The price of Cardano (Cardano-ADA) rose by 1.3% over the past 24 hours, stabilizing above the $0.70 level, as bulls (bullish traders) are trying to reverse its downward trajectory that began on March 2nd.

Trading volumes decreased by 26.6% as volatility began to subside. In contrast, the overall market sentiment showed some relief as the fear and greed index improved from its lowest levels at 15 to reach 19; and although it still indicates a state of 'extreme fear,' the market may be reaching a temporary bottom as investors start buying to take advantage of low prices.

#Cardano $ADA remains positioned

Famous trader Ali Martinez emphasizes the importance of keeping the price of Cardano above the $0.80 level this week, and he expects that a break above the resistance level of $1.20 will push the price of this digital asset to $10 in the medium to long term.

The price of Cardano seems poised to retest the resistance level of $0.763. Will it succeed in breaking through?

ADA has lost 12.6% of its value since the beginning of the year, yet it has maintained its resilience during the recent sell-off, appearing to perform better than some other well-known coins like Solana (Solana-SOL) and Ethereum (Ethereum-ETH), which suffered losses of 33.6% and 42.7% respectively during the same period.