Cardano's native token (ADA) rose more than 6% over the past 24 hours as trading volume spiked overnight amidst a broader crypto rally.

Market analysts remain divided on ADA's short-term prospects. While some point to a potential bullish reversal with targets around $0.70-$0.72, others note bearish on-chain metrics, including declining active wallets and substantial exchange outflows.

The broader economic landscape continues to influence crypto markets, with President Trump's firm stance on tariffs creating additional uncertainty. As July unfolds, investors are closely monitoring both technical indicators and macroeconomic developments that could determine whether ADA's recent volatility represents the beginning of a recovery or merely a temporary bounce.

Technical analysis highlights

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