Cardano Don Pass $1 Den Stop for $0.98 Resistance
Cardano price don surge over 20% for four sessions, e reach $1 briefly for the first time since March before e settle down for $0.93 as Bitcoin dey pull back. Coinglass derivatives data show say $194 million dey ADA long positions against $93 million short, wey show say people dey optimistic. But, one heavy short cluster wey dey $0.98—wey hold $43 million—don create one serious resistance level wey block the intraday rally. Technical indicators still dey show say buyers fit tire: RSI near to overbought for 69.7% and prices dey trade pass the upper Bollinger Band. If e break pass $0.98, e fit cause short covering wave, push Cardano price go reach $1.20, but if e fail for am, ADA fit fall back to $0.92 or even lower support near the 20-day SMA wey dey around $0.79.
Bullish
Di article data dey show say Cardano price get bullish outlook. 20% rally plus say long positions don double the shorts show say buyers get strong conviction. High short concentration for $0.98 fit cause short squeeze, wey we don see before for March when ADA spike after breakout. Technical indicators, even if RSI overbought, show say buyers dey control pass Bollinger Bands. For short term, if $0.98 break sharp, e fit quick move gains go $1.20. For long term, steady momentum plus low resistance above dis level go support more upside. Even if pullback happen, e fit gimme chance for accumulation before next bull phase.