Cardano has experienced a significant price surge recently, reflecting improvements in the overall market conditions. The altcoin is currently valued at $0.79, having gained 17% in the past three days.

In addition to the favorable market conditions, positive signals from Cardano's network indicate a potential recovery from the 40% losses it faced in March.

Investors in Cardano are observing a potential opportunity to capitalize on the situation. The MVRV Long/Short Difference for Cardano stands at -89%, indicating that long-term holders are seeing minimal profits or even losses, while short-term holders are making gains.

This fluctuating indicator tends to reach extremely low values towards the end of a bear cycle, leading to new investors stepping in to absorb selling pressure as short-term holders sell off.

These dynamics could help maintain the price stability of Cardano and even drive it higher, supporting a recovery from recent losses.

Bullish technical indicators also align with Cardano's positive momentum. The Moving Average Convergence Divergence (MACD) shows a strengthening bullish trend, with rising green bars indicating positive market momentum and a distant possibility of a bearish crossover.

The current MACD trend suggests that Cardano is likely to continue its upward trajectory and potentially achieve higher price levels as bullish strength increases.

Cardano is currently trading at $0.78, reflecting a 17% increase in the last three days, inching closer to the $0.80 resistance. This recent upward movement presents an opportunity for Cardano to recover from the losses it incurred in March.

If the positive momentum persists, Cardano could break through key resistance levels and set its sights on higher price targets. A full recovery may require reaching $1.13, though this could take time. In the short term, flipping the $0.85 resistance to support is a realistic goal.

However, failing to sustain growth and slipping below $0.74 could lead to a consolidation phase for Cardano, with the price fluctuating between $0.74 and $0.66, jeopardizing the current bullish outlook.