Cardano ADA is rebounding at the start of the week after a previous drop below the $0.503 mark last week due to widespread declines in the cryptocurrency market. Nonetheless, the top smart contract cryptocurrency may encounter additional volatility before it can establish a reliable low point, based on recent analyses. Although Cardano dropped to a low of $0.45, it managed to rebound by almost 16% during the weekend. Rapid changes caused several supporters of ADA to declare the recent downtrend over, but analyst Crypto ZX anticipates further periods of flat trading and possible declines before Cardano shows clear signs of a positive shift in market sentiment. Last week’s attempt to push higher was stopped by prompt resistance at the $0.52 level, which continues to be an obstacle. Additionally, see the article: Predictions suggest Shiba Inu (SHIB) could hit a value of $0.001: Find out the timeframe. ZX indicates that a strong breakthrough beyond that technical threshold might set the stage for a recovery to around $0.60. If the support level at $0.45 isn’t maintained, there’s a chance we could see prices drop to or below the 2022 low of $0.35 in the coming weeks. The analyst recommends that long-term investors should consider progressively investing during price declines, despite the current unpredictable market conditions. This cautious stance is noted even though digital assets are experiencing a bullish beginning to the trading week. Cardano and additional alternative cryptocurrencies are once more being influenced by Bitcoin’s market movements, as Bitcoin has strongly rallied from its support level around $38,000. Additionally, check out: The Top 5 Meme Coins Gaining Popularity to Keep an Eye on in 2024. Yet, ZX finds insufficient technical indicators to suggest that the downward trend for Cardano ADA won’t continue after the current rebound loses momentum.