Cardano [ADA] needs to defend this zone for a sustained rally

ambcrypto.com:

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the opinion of the writer. 

Cardano, one of the most popular altcoins trading in the market (judging by its $21.9 billion market cap), has been in a downtrend since September 2021. The late-March rally did not break this downtrend, and at press time, the higher timeframe structure still looked bearish.

However, a rally like the March one could materialize in the next couple of weeks, as the price broke past the $0.6 resistance level with intention. Can the bulls defend the $0.57-$0.59 demand region?

Source: ADA/USDT on TradingView

The H12 chart showed that ADA was still on a downtrend. However, the bearish market structure was broken when the price rose past the $0.6 level, which had been tested as resistance two weeks ago, and thereafter the price continued to descend to $0.45.

The surge of the past couple of days occurred on high trading volume and moreover, has taken out the two Supertrend lines that have held firm since early April. They had shown a sell signal for most of the past two months, but the impulse move past $0.6 changed them to a bullish bias.

The RSI stood at 69, and divergence was not seen. Strong bullish momentum was the inference, as the AO also climbed past the zero line to show that momentum had indeed shifted in favor of the bulls.

Source: ADA/USDT on TradingView

On the H4 chart, the $0.61 and $0.488 (dotted white) lines are some important lines over the past two weeks that would give an idea of the next move for ADA. For a brief while, when BTC plunged to $28.3k, ADA dropped to $0.445, but this short-term bear trap saw the price reverse direction swiftly.

The $0.61 level was