1) ADA bounced off and found support at the previous low. Note: previous low was due to sell off in crypto market, not so much an isolated problem with Cardano. Previously, when ADA hit this support level, the upward trend/recovery drew significant volume(obviously). This illustrates the potential for large margins if executed correctly.
2) Very little downside risk of purchasing at this level, especially if trading with a stop loss.
3) FEB 28th meet up event with Bruce Milligan will likely get priced in between now and then causing upward price action.