As the cryptocurrency market fluctuates, Cardano (ADA) is making headlines with its bullish price prediction following a notable recovery from a recent downturn.

After experiencing a swift 17.8% price increase in just 36 hours, many experts are turning their attention to potential catalysts behind this surge.

One significant factor is the speculation surrounding the Gemini exchange potentially listing Cardano.

This news, coupled with the recent U.S. crypto strategic reserve announcement, has shifted investor sentiment and reignited interest in ADA.

While the co-founder of Gemini expressed doubts about Cardano's alignment with their strategic goals, he left the door open for a listing, which could significantly impact ADA's market position and price.

In terms of technical analysis, Cardano successfully retested a crucial support level after dipping below $0.8, a level that had been a focal point for traders over the recent months.

This threshold is crucial, given that the price was previously unable to hold above it, causing a bearish sentiment among buyers.

However, the recent bounce suggests that ADA may now be poised for a bullish reversal, especially as it approaches the three-month range lows at $0.68.

Despite these positive signals, challenges remain.

The Awesome Oscillator indicates a bearish momentum shift, and the daily chart’s structure still leans bearish.

The $0.8 level poses a significant barrier, marked by historical selling pressure, which could hinder upward movement.

Any further progress may encounter resistance at $0.9 and beyond, notably at $1.03 and $1.09.

Looking ahead, traders should pay attention to the liquidity levels indicated on the 3-month liquidation heatmap.

A significant cluster is centered at $1.17, while lower levels around $0.634, $0.8, and $0.83 remain crucial in the near term.

The recent market activity suggests that ADA could be drawn upward, potentially reaching the $1 mark, but a widespread bearish market sentiment paired with low buying pressure could temper these gains.

In summary, while Cardano appears to be on a bullish path, traders should remain vigilant, watching for price reactions around the $0.8 and $0.9 levels to gauge potential trading opportunities.

With market dynamics rapidly changing, Cardano’s future price movements will be critical to follow amidst these exciting developments in the crypto landscape.