The cryptocurrency market is rebounding, and Cardano (ADA) is emerging as a top performer. According to CoinMarketCap, ADA’s price surged by 5.34% in the past 24 hours, currently trading at $0.9712. This comes after the token hit a low of $0.8837 on January 9.

ADA on the Verge of Breaking $1 Resistance
Cardano’s recent price movement showcases a steady recovery following last week's market turbulence, which included the U.S. Silk Road Bitcoin liquidation news. Previously rallying to $1.15, ADA now aims to clear the $0.98 mark and potentially reclaim the critical $1 resistance if the bullish momentum continues.
Metrics suggest sustained recovery, with Cardano’s Open Interest increasing by 6.55% to 1.19 billion ADA, equivalent to $1.15 billion. Trading volume has also rebounded, now matching the Open Interest level at $1.34 billion, indicating renewed market confidence.