Cardano trades near 0.8201 after a 1.82 percent dip in the past 24 hours. The session opened around 0.8362 and slid early. The price found buyers and bounced. Market cap sits near 29.31 billion. Fully diluted value is about 36.9 billion. The circulating supply is 35.74 billion ADA ($0.41) out of a total capped supply of 45 billion ADA. The float is large, yet the cap maintains scarcity.

Intraday action

The chart shows a decisive morning selloff, reaching a low of 0.7858. That level acted as the day’s floor. From there, ADA climbed back toward 0.82. The recovery stalled close to 0.829. Hence, the market is compressing between 0.79 and 0.83. Momentum looks neutral in the short term. Buyers defended the lows, but bulls still struggle to sustain closes above the upper band.

_{24-hour price analysis Source: CoinMarketCap}

Volume over 24 hours printed about 1.15 billion, down roughly 5.5 percent day over day. That pullback signals caution. Traders are selective and waiting for confirmation. Vol to market cap stands near 3.93 percent, which fits the consolidation narrative. As participation wanes, breakouts require fresh content to continue.

Related article: Cardano’s ADA Holds Support as Hoskinson Highlights Network Growth

ADA remains number ten by market value. The token is currently trading far below its all-time high of $3.10, set in September 2021. That represents a drawdown of approximately 73.5 percent. Even so, the long arc is still impressive. From its all-time low near 0.017 in October 2017, ADA has gained more than 4,600 percent. The range between those extremes reminds traders to size positions with care.

Key levels to watch

Support sits first at 0.80 and then near the session floor around 0.786. Resistance shows up around 0.83. A firm close above that area could invite a push to 0.85. If momentum builds, the market may start eyeing the psychological 1 handle. On the other hand, a daily close under 0.80 can extend the pullback and retest the 0.78 zone.

Related article: Cardano Surges Toward $0.90 as Traders Eye Fresh Breakout

For now, the path is base building. Price respected support and reclaimed the 0.82 handle, yet conviction is still light. A catalyst and more substantial volume would help bulls. Until then, expect choppy moves inside the 0.79 to 0.83 band. If buyers flip 0.83 into support, trend followers may return. If not, patience remains the smarter trade while ADA coils and sets up the next directional leg.

The post ADA slips then rebounds: Can buyers turn 0.83 into support? appeared first on FXcrypto News.