Cardano price technical analysis 

The daily timeframe chart shows that the ADA price bottomed at $0.3278 on Dec. 31 and is currently $0.4125. This rebound has coincided with that of Bitcoin and other altcoins.

The Relative Strength Index has moved above the neutral point at 50, while the Stochastic Oscillator has moved to the overbought level.

However, the token remains below the 50-day and 100-day Exponential Moving Averages and the Supertrend indicator. That is a sign that bears remain in control for now.

However, the token will likely rebound and possibly retest the key resistance level at $0.5100, which is about 25% above the current level. This target is the lowest level in February, April, and June last year.