Cardano (ADA) Price Prediction for August 15
Main Idea
Cardano (ADA) has experienced a significant price breakout, reaching $0.9990 with a 10.45% daily gain, and is now targeting the $1.0136 Fibonacci resistance level, supported by strong derivatives activity and bullish technical indicators.
Key Points
1. Cardano price surged to $0.9990, marking its highest close since early February, with a 10.45% daily gain.
2. The breakout above a multi-month triangle structure and layered supply zones signals a shift in market structure, with multiple Break of Structure (BOS) confirmations.
3. Derivatives data shows a 110.10% increase in ADA futures volume to $6.92B and a 29.97% rise in open interest to $1.88B, with long/short ratios favoring buyers.
4. Technical indicators, including the Supertrend level at $0.8894 flipping bullish and rising DMI readings, support the upward momentum.
5. Key resistance levels are identified at $1.0136 (Fibonacci 0.618) and $1.1510 (Fibonacci 0.786), with potential for further upside if momentum continues.
Description
Cardano has staged a decisive breakout above the multi-month triangle structure, lifting Cardano price today to $0.9990 with a 10.45% daily gain. This marks ADA’s highest close since early February and comes with a notable surge in derivatives activity, reinforcing the bullish momentum. Traders are now eyeing the $1.0136 Fibonacci level as the next major test. What’s Happening With Cardano’s Price? ADA price dynamics (Source: TradingView) The daily chart shows ADA breaking above the descending t...
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