Cardano dey eye $1.03 & $1.20 targets as BTC cap for $117.5K
Cardano (ADA) don gain 4.88% inside di last 24 hours, trading volume rise 74% as BTC dey hard to clear $117.5K resistance. ADA try di 61.8% Fibonacci retracement for $0.673 before e take back June high of $0.73 as support. On-chain metrics like Chaikin Money Flow (CMF) +0.06 and MACD wey dey above zero show say buying pressure and bullish momentum still dey. Targets wey base on Fibonacci extensions and late-2024 resistance dey $1.03 and $1.20. For di 2-hour chart, ADA don flip $0.78 resistance to support, wey Money Flow Index (MFI) and CMF back up. Traders suppose dey watch $0.755 support level for possible entries. If ADA fit keep this level, e get chance say e go rise go $1.03 and $1.20. Market people go dey watch wetin BTC go do next to sabi if dis rally fit last.
Bullish
For short term, ADA get big trading volume increase plus e don take key support levels for $0.73 and $0.78 back, join with bullish signals from Chaikin Money Flow, MACD and MFI, e show say buyers get serious interest and momentum strong. The Fibonacci extension targets of $1.03 and $1.20 dey match old resistance levels, which fit show say better price gain fit happen. For long term, to keep ADA rally strong, e need steady support over $0.755 and BTC must fit break the current resistance. Based on these bullish technical signs and market condition, ADA outlook na positive.