ADA Jumps 39% on Breakout, Hoskinson Dey Deny Scam Claims
Cardano ADA price don climb pass seven-month downward trendline plus main resistance wey be $0.70, e climb 39% for July reach around $0.75. Founder Charles Hoskinson talk say the scam allegation wey fans dey talk no true, e make community confidence strong well well. The breakout get confirmation from 24-hour trading volume wey reach $1.31 billion plus on-chain activities dey rise, e test the $0.78–$0.80 zone. Technical indicators like RSI wey dey above 70 and MACD crossover wey bullish show say price fit still climb go $0.84 and psychological level $1, plus Fibonacci target fit reach $2.76. But overbought RSI fit make small pullback happen go support levels for $0.66 and $0.60. ADA/BTC don rebound from 0.00000500 to 0.00000635 BTC, e still get 0.92 correlation with Bitcoin support wey dey near $119,000. If Bitcoin comot below $118,000, e fit hold ADA rally. Market sentiment still dey bullish, over 70% of long positions dey for major exchanges. Market cap don pass $27 billion, plus new development like Reeve middleware platform, ADA fundamentals strong. Traders suppose watch ADA price make e close pass $0.82 to fit target next resistance for $1.08 and higher.
Bullish
News dey highlight clear clear technical breakout wey pass long-term descending trendline and key resistance for $0.70, wey rising volume plus on-chain activity support. Positive technical indicators (RSI pass 70, bullish MACD) plus strong market sentiment—wey show say over 70% positions na long—dem dey underline say upward momentum go continue. Founder Charles Hoskinson denial of scam allegation boost investor confidence and reduce uncertainty. Even though overbought RSI levels fit mean say short-term pullback fit happen to $0.66–$0.60, overall trajectory dey point for higher targets like $0.84, $1.00 and Fibonacci targets reach $2.76. Correlation wit Bitcoin support around $118,000–$119,000 add another layer of conditional strength. Traders go likely still dey bullish if ADA maintain am breakout and Bitcoin hold im support levels.