Cardano Price Eyes 100% Rally After Multi-Month Bull Flag Breakout - The Market Periodical

Key Insights:

• Cardano price breakout sparks bullish momentum toward $1.60–$1.75.
• Strong ADA accumulation reduces selling pressure, fueling a possible parabolic rally.
• Rising open interest confirms investor confidence and strengthens upward momentum.

Cardano (ADA) price has sustained momentum above $0.90, signaling renewed market confidence. The ADA price recently advanced 1% to $0.9131, breaking past a long-term descending channel and crossing strong resistance zones. Crypto experts view this move as a confirmation of bullish technical signals.

Cardano price has also formed a cup-and-handle, strengthening the outlook of increased prices. In the last 24 hours, the cryptocurrency has increased to $0.95, representing close to a 20 percent increase in the past week. This strength came despite a sharp decline in trading volume, which dropped 36% to around $4 billion.

The market observers point to a stable advance after the previous week’s level of 0.9305 and the steady apparent upward push. The breakout of Cardano has been viewed as a positive signal of the extended bullishness in the greater crypto industry.

Cardano Price Supply Squeeze Signals 100%

Crypto analyst reports that the Cardano price has broken out from a prolonged bull flag pattern.  Market analysts have now made projections for a possible increase of 100% to 150%, setting the price range between $1.60 and $1.75. This follows an optimistic view as the opinion regarding altcoins picks up, with searches previously not seen since 2021.

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Statistics indicate that over 15 billion ADA coins have been locked up, over a year, which lowers selling pressure massively. This supply lock-up might cause a squeeze that would enhance the rally in case the growth of demand persists. Investors are now focusing on whether this setup will trigger the next impulsive bullish trend in Cardano.

Open Interest in ADA Shows Strong Growth

According to the reports, the open interest in the native token ADA of Cardano has gained a steady pace. The dramatic rise in the application of derivatives implies that more trade members are preparing towards the possible price movements. An overall increase in the open interest prices is usually an indicator of more participation that suggests a fresh confidence over the future of ADA.

In addition to this increase, general interest towards ADA by investors is starting to grow. Improved volumes in trading provide support to the increased activity, demonstrating the involvement with both retail participants and institutional players. This trend underlines that Cardano is gaining wider interest, because investors are following its performance in the dynamic cryptocurrency environment.

Cardano Price Holds Steady, Eyes Breakout Above $1

The ADA price hovered at $0.9091 during the latest 4-hour period, showing a mild 4% uptick. 

The Relative Strength Index (RSI) was at 51.24, which indicates neutral momentum. 

Despite the recent loss of the overbought RSI, the indicator shows a neutral market activity with the buyers and sellers still having no apparent advantage.

The MACD indicator produced a weak bearish crossover. The MACD line was at -0.0070, just a bit below the signal line at 0.0300, and the histogram was printing red. This indicates weakening purchasing impulse in the short run; sellers are trying to assert their dominance.

Cardano price must hold above $0.90 to prevent falling back into a downtrend. A closing above $1.0 may be a bullish confirmation of continuation, and a subsequent move to $1.20 in the medium term. Conversely, a decline to below $0.90 would open up the token to support at $0.80.