Key Takeaways:
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The ADA Technical Chart Setups is in contact with a target price around $ 1.25.
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Cardano’s open interest rallied on a record of $ 1.95 billion high, which signed a high -interested interest.
Cardano (Ada) shines a lot of technical and onchain signals, suggesting that a rally at $ 1.25 is possible over the next few days or weeks. Here are some charts that make the case for a nearby breakout.
Ada Price Symmetrical Triangle targets $ 1.25
Data from Cointelegraph Markets Pro and Tradingview Showing Cardano’s price trading within a Symmetrical triangle In the day -to -day time, as shown in the chart below.
Related: Price predictions 9/15: SPX, DXY, BTC, ETH, XRP, SOL, BNB, DOGE, ADA, HYPE
The price will have to close above the upper triangle of the triangle at $ 0.925 to continue the uphill trajectory, with a measured target of $ 1.25.
Such a move will bring total acquisitions to 38% from the current level.
The KaMag -Kaba -child index -child -child has risen from 40 to 55 since early August, suggesting a solid build-up in bullish momentum.
Cup-and-handle Cardano aims $ 1.20
The ADA price is also looking for a breakout from a cup-and-hold pattern on the four-hour chart, as shown below. The Bulls will now try to push the price above the pattern neckline to $ 0.96, confirming a bullish breakout.
If this happens, Cardano can rise to the measured target of the existing chart pattern to $ 1.20, which represents a 32% rally from the current price.
As Cointelegraph reportedADA needs a decisive rest above $ 0.94 to get momentum for a push towards $ 1.25.
Cardano’s open interest hits new highs
Cardano’s Open interest .
Such high demand suggests that more merchants estimate Ada’s upward trajectory, which is potentially powered by Imagination -haka of etf.
The above chart shows that Cardano’s OI has jumped 22% in the past 12 days, suggesting an increase in demand for leveraged ADA positions.
A progress in OI is often preceded by significant price transfers, as seen between June and mid -August when the ADA price almost double Following a 150% increase in OI.
A Spot cardano etf are also looking more likely, with the odds of approval rising to 90% On Friday from 59% on August 6, according to the Polymarket.
Number Cointelegraph reportedMany technical and onchain indicators have made a strong case for an ADA price rally towards $ 2 or even higher, once the $ 1 psychological level of resistance is certainly damaged.
This article does not contain investment advice or recommendations. Every transfer of investment and trading involves risk, and readers should conduct their own research when deciding.
