ADA’s $1.15 Dream: Will It Fly or Die? 🚀💸

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Key Takeaways (Because Who Has Time for Nuance?)

Cardano [ADA] broke $0.93 with support at $0.51, while Open Interest hit $1.82 billion. Yet overbought RSI and bearish CVD raise doubts. Will liquidity near $1.15 spark continuation, or is a reversal brewing? Spoiler: I have no idea, but let’s pretend I do. 🤷♂️

While most of the top ten crypto assets were busy faceplanting in a short-term correction, Cardano [ADA] was like, “Hold my beer,” and quietly held ground with a slight gain. What a show-off. 😒

The altcoin extended its bullish rally after reversing at the $0.5154 support in late July. Because, you know, it’s not a real rally unless it’s dramatic. 🎭

Cardano prices could hit $1.15. Or not. Who knows? I’m just here for the snacks. 🍿

Cardano broke above the $0.9382 resistance level on the daily chart, a move that gives its structure a more constructive bullish outlook compared to its peers. Translation: It’s less of a dumpster fire than the others. 🗑️🔥

Naturally, the bullish run seemed far from over, with liquidity clusters stacked near the $1.15 psychological level. Because nothing says “psychological” like a bunch of numbers on a screen. 🧠💹

Having said that, the looming risk of correction persisted, as profit-taking usually follows rallies of this scale. Even so, futures data offered a potential stepping stone for ADA. Or a banana peel. We’ll see. 🍌

Record Open Interest Backs ADA’s Bullish Technical Structure (Whatever That Means)

ADA futures market activity stands out as per AMBCrypto analysis on its on-chain metrics. Which is great, because nothing screams “trust me” like a bunch of charts. 📈

The altcoin’s Open Interest pushed to a record $1.82 billion, at press time, showing that traders were leaning into Cardano despite broader market weakness. Or maybe they just forgot to log out. 🤔

On top of that, if conviction held, rising institutional flows could propel ADA toward $1.15, where liquidity was clustered. Or it could all go up in flames. Your call. 🔥

Cardano Warning Signs Remain (Because Nothing’s Ever Easy)

But it’s not all clear skies. More like a mix of sunshine and tornado warnings. 🌞🌪️

At press time, the Stochastic RSI was in overbought territory on the daily chart, suggesting stretched momentum. Or maybe it’s just flexing. 💪

In fact, CryptoQuant’s 90-day Cumulative Volume Delta still leaned bearish, showing some investors continued offloading positions. Because who doesn’t love a good panic sell? 😱

What’s Next for Cardano? (Spoiler: I Still Don’t Know)

The coming sessions will be critical. A clean move above $1.15 would likely confirm ADA’s breakout and unlock further gains. Or it’ll crash and burn. Flip a coin. 🎰

However, failure to absorb selling pressure from dominant sellers could drag the token back in line with the broader market pullback. Because nothing says “fun” like a good old-fashioned market pullback. 😩

As things stood, the constructive technical structure and surging institutional interest ticked the boxes for a bullish ADA run. Or maybe they just checked the wrong boxes. 📦

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2025-08-17 05:17