[DigitalToday reporter Hyunwoo Choo (추현우)] Cardano's ADA trading volume rose more than 116% over 24 hours, pushing the token above $0.20. U.Today, a blockchain outlet, reported on Aug. 7 that the rebound has revived bullish sentiment, but it is still too early to judge whether a long-term bull market has started.

ADA built a pattern of higher lows for several weeks after its June trough and then moved to break higher. As buyers gradually regained control, it reclaimed the 20-day and 50-day moving averages. The rebound extended to around the 100-day moving average.

The recent rally has brought ADA into a key resistance zone around $0.20. That price band repeatedly saw selling throughout 2025. This move differed from earlier rebound attempts in that spot trading on major exchanges also increased.

On Binance alone, ADA trading volume over 24 hours topped $334 million. Volume also rose sharply on OKX, Bybit and Bitget. Derivatives indicators also pointed to improved investor sentiment. Binance's long-short ratio was about 1.83, and top traders kept net long positions.

Liquidations were relatively balanced. Over 24 hours, long-position liquidations were about $635,000, while short-position liquidations were about $3.28 million. The rally pushed out a significant number of bearish positions from the market.

Technically, the 100-day moving average in the $0.197 to $0.20 zone is acting as immediate resistance. If ADA clearly secures a daily close above that zone, it could be the strongest bullish signal in months. That would also leave room for a further rise toward around $0.26, where the 200-day moving average sits.

Momentum indicators also improved. The relative strength index (RSI) rose above 70, pointing to strong buying pressure. Still, the current rebound alone makes it difficult to conclude that the market has entered a broad bull phase. The next key question is whether it can turn the $0.20 resistance zone into support.