Cardano (ADA) is rebounding and targeting a move towards $0.70 after a significant drop and finding support at $0.5585.
Analysts suggest a bullish reversal within a falling wedge pattern, with a target of $0.70 and a potential rally to $0.79 if buying momentum continues.
Caution is advised as a failed breakout could lead ADA to stay range-bound or drop to lower support levels like $0.50.
A major upgrade to Cardano's mainnet named Leios scheduled for next year aims to enhance the ecosystem and potentially drive a price revival.