Cardano (ADA) Struggles to Hold $0.61 Amid Market Uncertainty and New Node Update

Cardano (ADA) has reclaimed the key $0.60 level, yet investor sentiment remains cautious. At the time of writing, ADA is trading at $0.6164, down 0.57% over the past 24 hours. After peaking at $0.668 on April 13, the token dropped to $0.595 by April 16 before staging a modest recovery to $0.629 during Thursday's session. Bulls are now attempting to maintain momentum in early Friday trading, with ADA hovering around the $0.61 mark.

However, ADA is still facing resistance, particularly near its moving averages. A decisive break above the 50-day Simple Moving Average (SMA) at $0.70 could signal a potential rally toward $0.83. Conversely, if sellers push the price below the $0.58 support level, ADA may dip further to $0.50 or even $0.40, both of which are considered crucial levels for buyers to defend.

On a more optimistic note, Cardano has introduced Node 10.3.1, a new prerelease aimed at enhancing performance. According to GitHub, the update improves execution speed, reduces memory usage, and accelerates synchronization. It also supports lightweight checkpointing for Ouroboros-Genesis and refines tracing systems and CLI command functions. However, this version is still under community testing and is not yet recommended for production use.

While ADA’s price action reflects broader market hesitance, ongoing network improvements suggest long-term potential. Investors are watching closely to see whether the bulls can secure support above $0.60 and break through key resistance levels, or if bearish pressure will drag the token back toward lower zones. For now, ADA remains at a pivotal point as technical signals and ecosystem upgrades shape its next move.