$ADA Price Forecast: Looking for Recovery

Currently trading at $0.89, Cardano (#ADA ) has experienced a significant 7% drop over the past 24 hours and is now hovering above the key support at $0.87. The ability to sustain above this level will be critical to maintaining bullish sentiment in the near term.

If the market shows signs of rebound, #ADA is expected to break through the $1.00 mark it previously fell below. If this resistance level manages to turn into support, it will signal a resurgence for Cardano, pushing the price further towards $1.23 and potentially attracting more investors to participate.

However, if the price fails to hold the $0.87 support, it could lead to further downside. A break below this level could see #ADA drop to $0.77, thereby invalidating the bullish sentiment and the market could enter a bearish phase.