Cardano (ADA) Breaks $0.85 Resistance, Eyes $1.31 on Record Futures Open Interest
Cardano price surged 7–10% over 24 hours after breaking long–term downtrend resistance around $0.74 and clearing the key $0.85 level. The rally, underpinned by a record futures Open Interest jump to $1.65 billion, approaches the 61.8% Fibonacci retracement at $0.9214 and nears the $1 psychological mark. Analysts Ali Martinez and Marcus Corvinus now set new targets at $1.18 and $1.31, provided ADA holds daily closes above $0.85. On–chain signals and technical indicators—RSI at 72 and a positive MACD—support further upside, while support zones stand at $0.82, $0.68 and $0.58 in case of pullbacks. Traders monitoring Cardano price should watch daily closes for confirmation of extended bullish momentum.
Bullish
The breakout above $0.85 resistance, combined with record futures Open Interest and bullish technical indicators, signals strong trader conviction and momentum for ADA in both the short and medium term. Analysts’ raised targets to $1.18 and $1.31 reinforce confidence, while RSI and MACD remain supportive. Key supports at $0.82, $0.68 and $0.58 offer risk management levels, suggesting a continued upward trajectory if daily closes hold above $0.85.