According to CryptoPotato, Cardano (ADA) has found support at 31 cents following a significant market downturn. On Monday, ADA briefly dropped to 27 cents before buyers intervened, pushing the price back above the 31-cent support level. Since then, buyers have maintained control, preventing further declines. The next resistance level is identified at 37 cents, which will be crucial for the continuation of this relief rally.

Buyers have managed to stabilize the price since Monday, although the current buy volume remains low, indicating some market weakness. A break above the key resistance at 37 cents is necessary to restore market confidence fully. The daily Relative Strength Index (RSI) also reversed course after briefly dipping into the oversold territory below 30 points. This recent low suggests that ADA's price may have bottomed out during the ongoing correction.