Cardano (ADA) is experiencing a bullish market, currently priced at 0.87 USD with a gain exceeding 4%. The futures open interest surged to 1.43 billion USD, reflecting increased retail investor engagement.
Technical signals, including a MACD buy signal, suggest that the bullish trend for ADA is strong. However, ADA must break a key descending trendline for the price to approach the target of 1.00 USD.
Recent liquidations amounted to 3.35 million USD, primarily from short positions, reinforcing bullish sentiment. Observations of multiple Golden Cross patterns further support an upward trajectory for ADA in the coming period.
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