Cardano recently encountered resistance at the $1.3 resistance level, triggering increased volatility and a downward retracement phase. As a result, the price has stabilized in the support area of $0.75, which coincides with the significant volatility high point of the previous year and is filled with demand and buying interest. This support has prevented further downward momentum, keeping ADA within the range of $0.75 to $1.3.

This consolidation phase indicates increasing market pressure, and either side could see a decisive breakthrough. A bullish breakout above $1.3 would signal the beginning of a sustained uptrend, while a bearish breakdown below $0.75 could lead to a cascade of liquidations, pushing the price towards lower support levels.