Cardano ADA don pass $0.74, e dey ready for $0.85 rally
Cardano ADA don form one bullish double bottom and e break through the key $0.74 resistance on July 16. The move follow Emurgo launch of the Cardano Card payment solution on July 15, wey make active addresses jump 38% to 38,500. Total value wey dey lock for DeFi protocols naik 93% reach $438 million. ADA price rise 2.17% to $0.74, comot market cap reach $26.3 billion and 24-hour volume reach $1.34 billion. Golden cross for 20-day and 50-day moving averages dey support more upward movement. For 4-hour chart, ADA dey trade above 20-day SMA at $0.7361, dey test upper Bollinger Band at $0.7607, and RSI hold steady at 58.6. Positive funding rates and altcoin season index 34, plus compressed volatility, show say near-term target na $0.85. Key resistance for $0.76 neckline dey on top $1.03 Fib projection from 78.6% retracement.
Bullish
Cardano ADA don pass through $0.74 resistance plus e form bullish double bottom, wey golden cross support, e show say technical momentum strong. TVL dey rise and active addresses mean say on-chain demand dey grow. Positive funding rates and compressed volatility dey show say traders trust dey increase. For short term, ADA fit test $0.85, while $1.03 Fib target dey if $0.76 hold as support. Overall, these developments dey point to bullish trend for ADA for short and long time.