Cardano Price (ADA) At 0.78 dollars, it maintains a 16 % ascending trend with a 1.04 % increase on May 9. Despite the simple slowdown, optimism is high in Ada derivatives where the open interest (OI) crosses $ 900 million. Amid the back winds of increasing and collapse activities at the main level, let’s discover how OI, which is close to a billion dollars, can pump the price of Cardano to $ 1.20.
Cardano prices out of $ 0.74, targeting $ 1.20
Cardano’s bullish trend represents 20 % of its lowest level in 7 days at 0.6425 dollars to shorten the $ 0.74 region. This represents the end of approximately 60 days of monotheism and strong bullish signs.
On March 3, Cardano was reflected in the offer area of $ 1.20, which led to a 60 % decrease to $ 0.5107 in 36 days. Since then, the $ 0.74 supply zone, intertwined with the 61.80 % Fibonacci level, has retained the ups of the ups. However, the increase of 14.55 % in PRICE ADA gave a decisive outbreak with a daily closure at $ 0.7693.
In the largest picture, the lowest levels of the ADA price since December 2024 have been a retreat from the support direction. It is associated with the supply zone of $ 1.20, it is an expanded wedge of the right angle. Within this style, the outbreak of the Fibonacci level increases 61.80 % of the ADA price test of the $ 1.20 supply zone opportunities. This represents more than 50 % bullish capabilities.
Cardano’s documentary career has exceeded 50, 100 and 200 in daily automatic averages (EMA). Thus, an increase Gold Cross The probability of between 50 and 200 days Emas. In addition, the upward trend of MACD lines and signal lines gives a positive intersection, supporting expanded recovery forecast.
Based on Fibonacci levels, Cardano prices are expected to be 100 % increase near $ 1.22. If Cardano exceeds the supply area, which distinguishes the medieval breakdown to seize the sponge, then the level of 1.272 Vibonacci at $ 1.77 is the next resistance level.
On the contrary, the collapse of the support zone, which has turned into $ 0.74, will lead to the cancellation of the positive session thesis to $ 1.20. Such a scenario will put a 50 % Cardano support in Fibonacci at $ 0.62 for testing.
Cardano’s open interest crosses 900 million dollars
While maintaining Cardano over the $ 0.74 sign, optimism grows in the derivative market. Cardano Open attention Through 900 million dollars, and the most likely financing rate remains flat at 0.0103 %. With OI approaches a billion dollars and the upper financing rate is significantly, the derivative data with optimistic expectations.
High smoke activities support high prices
Supporting the direction of ADA prices, the stokeing activity on the Cardano network has increased significantly. according to swimming pool2,764 active Staking gatherings, with 1.33 million total addresses of 22.08 billion ADA. At the current market price of $ 0.78, these accounts are about $ 17.22 billion.
Moreover, one community ADA (1comm), an operator that brings together the community, holds a Alive From 69.04 million ADA symbols, making it one of the most reliable complexes.
Related questions (common questions)
The increasing activity of the increased confidence in the Cardano network reflects, with more symbols, which reduces the circulating supply and supporting high prices.
Based on Fibonacci levels, the price of Cardano can reach $ 1.20, with the following resistance at $ 1.22 and a potential slot of about $ 1.77.
Since the open interest exceeds 900 million dollars, it indicates an increase in market participation and investor confidence, which usually supports promotional price movement, especially in the upward markets.
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