Cardano (ADA) is capturing investor attention as it trades near $0.70, with technical indicators and on-chain data suggesting a powerful breakout could be on the horizon. According to TradingView analyst Master Ananda, ADA has formed a higher low at the $0.57–$0.60 support zone on April 7, which he views as a critical confirmation of a potential trend reversal — a key factor in his bullish Cardano price prediction.
The first key Fibonacci Extension level lies at $0.81 (0.382 Fib), marking the initial resistance point. If ADA gains momentum, it could climb to $0.91 (0.5 Fib), then $1.01 (0.618 Fib), and $1.14 (0.786 Fib). A sustained breakout could even propel the price to $1.30 and eventually $1.83, aligning with the 1.618 Fibonacci level. The ultimate bullish target sits at $2.65 — a staggering 300% increase from current levels, supported by the 2.618 Fib extension.
On-chain data from Santiment backs this bullish outlook. Whales holding between 100,000 and 100 million ADA have been increasing their positions since April 14, a signal of growing institutional confidence. Open Interest has also surged by 12.69% in the past 24 hours, now totaling over 1.07 billion ADA, valued at $754.64 million.
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Binance leads in Open Interest volume with 241.29 million ADA, followed by Bitget and Gate.io. This exchange distribution shows robust market activity and interest among active traders.
Crypto expert Dan Gambardello adds a longer-term perspective, predicting that ADA could face strong resistance at $3 before targeting $5 — a level he sees as a “quick stop” before a larger move.
With technical indicators, whale activity, and rising Open Interest all aligning, Cardano appears well-positioned for a significant breakout in the coming weeks.
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