Cardano (ADA) Price Prediction for August 9

Key Points

1. ADA price rebounded from $0.68–$0.70 support, targeting $0.80–$0.82 resistance, with a potential breakout toward $0.88–$0.90.

2. Technical indicators (EMA cluster, Bollinger Bands, RSI, MFI, Parabolic SAR, DMI, Supertrend) all show bullish signals for ADA.

3. Open interest increased by 9.29% to $1.45B, and 24-hour trading volume surged 127.54% to $2.94B, indicating strong market participation.

4. A breakout above $0.8120 could push ADA toward $0.85–$0.90, while failure to hold $0.79 may lead to a retest of $0.76 support.

5. Overbought conditions (MFI at 85.37, RSI at 70.41) suggest potential for short-term pullbacks despite the bullish trend.