Cardano Prize (ADA) At $ 0.78, the 16% trend moves with an increase of 1.04% on May 9. Despite a minor slowdown, optimism is high in ADA derivatives, because open interests (OI) cross $ 900 million. In the midst of the tail winds of the increased stimulation activities and a key escape, let's discover how the OI almost $ 1 billion could bring the cardano price to $ 1.20.
Cardano Price breaks the area of $ 0.74, target $ 1.20
The upward trend of Cardano Price represents 20% compared to its lowest at 7 days at $ 0.6425 to exceed the area of $ 0.74. This marks the end of almost 60 days of consolidation and signals a strong increase in increase.
On March 3, Cardano reversed the supply area of $ 1.20, resulting in a drop of almost 60% to $ 0.510 in 36 days. Since then, the supply area of $ 0.74, overlapping with the level of fibonacci of 61.80%, has kept upwards in check. However, the 14.55% increase in Ada Price gave decisive break with a daily fence at $ 0.7693.
In the situation as a whole, swing stockings in Ada Price since December 2024 form a declining support trend. Associated with the $ 1.20 supply area, it forms a widening corner descending at right angles. In the model, the fibonacci level of 61.80% increases the ADA prices for the chances of the supply area by $ 1.20. This marks an increase potential of more than 50%.
The Cardano rally exceeded daily exponential moving medium -sized moving nearly 50, 100 and 200. Thus, increasing the golden crossing Possibility between EMA of 50 and 200 days. In addition, the upward trend in MacD and Signal lines gives a positive crossing, supporting the extended recovery forecasts.
Based on fibonacci levels, Cardano Price Prediction provides for a 100% increase almost $ 1.22. If Cardano exceeds the supply area, marking the widening descending a corner rupture, the level of Fibonacci 1,272 at $ 1.77 is the next level of resistance.
Conversely, the breakdown of the resistance of $ 0.74 in the support area will cancel the thesis of the positive cycle at $ 1.20. Such a scenario will put the Fibonacci support level at 50% cardano at $ 0.62 to test.
Cardano Open Interest crosses $ 900 million
While Cardano supports the mark of $ 0.74, optimism increases on the derivative market. The cardano open interest Having crossed $ 900 million and the weighted funding rate remains stable at 0.0103%. While the OI approaches $ 1 billion and the significantly optimistic funding rate, the derived data on the side of an optimistic forecast.
Resembling jealous activities supports the price rally
Supporting the ADA price trend, the activity of implementation on the Cardano network has increased considerably. According to Pooltool2,764 standby pools are active, with 1.33 million total implementation addresses that marked 22.08 billion ADA tokens. At the current market price of $ 0.78, they represent nearly $ 17.22 billion.
In addition, the only ADA community (1comm), an ignition pool operator led by the community, holds a live stale Of 69.04 million Ada tokens, making it one of the most reliable pools.
Frequently asked questions (FAQ)
The increased stimulation activity reflects growing confidence in the Cardano network, with more locked tokens, reducing the supply in circulation and supporting higher prices.
Based on fibonacci levels, the price of Cardano could reach $ 1.20, with the next resistance at $ 1.22 and a potential escape to $ 1.77.
While the interests opened exceed $ 900 million, this indicates increased market participation and the confidence of investors, which generally supports the upward price movement, especially in the bull markets.
Coingape staff
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Warning: The content presented may include the author's personal opinion and is subject to the market state. Do your market studies before investing in cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.
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