Fed Chair Powell Dovish Side Spark Cardano (ADA) Rally
Federal Reserve Chair Jerome Powell talk wey show say dem fit cut rate sharp sharp for September don make US dollar weak and make people dey risk their money more. Cardano price jump 3.5% reach $0.92, e dey try break $1.00 wey be big resistance. Daily chart of ADA show say e get support for $0.85 and Bollinger Bands dey tight, meaning breakout fit happen soon. If Fed talk say dem go cut rate for September, Cardano price fit reach $1.12 to $1.15. If no clear talk, ADA fit just dey between $0.85 and $1.00, but if e fall e fit drop to $0.70. Outside Fed, the trend of US dollar index and Cardano network update go important. Traders suppose dey watch macroeconomic signs well well because Powell dovish talk don make people dey like risk asset and change how dem feel about ADA.
Bullish
Powell wey dey talk soft for Jackson Hole don always make people put money for digital assets dem. Dollar wey dey weak and people wey dey expect say dem go reduce rates for September dey same as before (like middle 2023) when Fed easing make Bitcoin and main altcoins go up. Cardano quick respond, e break pass e $0.85 support come near $1.00 resistance. Tight Bollinger Bands show say breakout fit soon happen. For short time, traders suppose dey watch Fed minutes and US dollar movement; for long run, confirmed rate cuts and good network updates fit keep the rally go $1.12 to $1.15. Overall, market mind don turn bullish for ADA as liquidity don better.