Cardano (ADA) price trades within a symmetrical triangle on Friday, a breakout from which could signal a rally ahead.
Cardano could rally if it breaks above the symmetrical triangle technical pattern it is trading within. On-chain data paints a bullish picture as ADA’s dormant wallets are in motion and open interest is rising. A daily candlestick close below $0.304 would invalidate the bullish thesis. Cardano price trades within a symmetrical triangle on Friday, a breakout from which could signal a rally ahead.
A cross to levels over 60 would indicate that bullish momentum is gaining traction. ADA/USDT daily chart Cardano’s on-chain data further supports the bullish thesis. Coinglass’s data shows that the futures’ Open Interest in Cardano at exchanges is also increasing. The OI indicates the total number of outstanding derivative contracts that have not been settled and whether money flows into the contract are increasing or decreasing.
Technical Analysis Cryptocurrencies Openinterest
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Cardano (ADA) Upgrade Ogmios v6.7.0 Just Landed: What's NewCardano Foundation tech director Matthias Benkort announces release of new Cardano (ADA) node client
Read more »
18 cool new iOS 18 features to try on your iPhoneDavid Nield is a freelance contributor at Popular Science, producing how to guides and explainers for the DIY section on everything from improving your smartphone photos to boosting the security of your laptop. He doesn't get much spare time, but when he does he spends it watching obscure movies and taking long walks in the countryside.
Read more »
Here is why DUSK could rally 18%Dusk (DUSK), a Layer 1 blockchain protocol that brings classic finance and real-world assets (RWA) on-chain, is up 4.6% on Thursday and could extend gains by 18% after the coin’s price recently retested and found support around the double-bottom pattern breakout level, a key technical area.
Read more »
Here is why APE could rally 18%ApeCoin (APE) price breakout of the double-bottom formation on Monday and, at the time of writing on Tuesday, trades at $0.847.
Read more »
Shawn Mendes' Smoldering Twitter ComebackWhy, why, why would you post that picture, Shawn?
Read more »
Cardano (ADA) Explodes 83% in Volume, Price Rally Coming?Crypto traders have turned bullish on Cardano (ADA)
Read more »