ADA Token Retraces 4.36% After 22% Weekly Surge Amid Volatility and Mixed Market Signals

Cardano (ADAUSDT) experienced heightened volatility over the last 24 hours, with the price declining by 4.36% to $0.7063 on Binance, down from a 24h open of $0.7385. This price movement follows a period of strong gains earlier in the week, including a 15% surge on July 11, attributed to bullish sentiment, technical reversals from key support zones, and increased trading activity. However, recent bearish pressure has emerged as ADA approached resistance levels near $0.6250, with analysts noting mixed signals of both potential continuation of bullish momentum and possible reversal. Broader market sentiment and technical factors, such as profit-taking after rapid gains and fluctuating trading volumes (ranging from $984 million to $2.84 billion), have contributed to the current price retracement. Cardano remains among the top cryptocurrencies by market capitalization, with a circulating supply of approximately 36 billion ADA and recent weekly gains of over 22%, despite the latest short-term pullback.