Cardano (ADA) price is showing signs of a possible shift in trend after a multi-week downtrend, as it hovers near the $0.64 mark.
On the daily chart, Cardano price action appears to be forming a rounded bottom, suggesting a potential reversal pattern and increased buyer interest.
On the hourly chart, Cardano has broken above key short-term moving averages, indicating steady demand and possible retesting of $0.66-$0.68 levels.
If the current momentum continues, Cardano price could climb to test the $0.70-$0.75 zone, but a failed rally may lead to a correction back toward the $0.60-$0.58 support area.