Cardano (ADA) Just Broke Higher: The Data Says It Wasn’t Just Short Covering
• Cardano's native token (ADA) surged nearly 100% from a low of under $0.14 in late June, reaching over $0.27, with increased open interest indicating new positions rather than just short covering.
• Open interest rose by approximately 25% to over $300 million during the token's price increase, with whale transactions significantly higher than the previous month's average.
• Analyst Crypto Patel remains bullish on ADA's long-term potential, targeting prices between $0.50 and $5.00 as it enters a potential macro expansion phase.
https://cryptopotato.com/cardano-ada-just-broke-higher-the-data-says-it-wasnt-just-short-covering/
• Cardano's native token (ADA) surged nearly 100% from a low of under $0.14 in late June, reaching over $0.27, with increased open interest indicating new positions rather than just short covering.
• Open interest rose by approximately 25% to over $300 million during the token's price increase, with whale transactions significantly higher than the previous month's average.
• Analyst Crypto Patel remains bullish on ADA's long-term potential, targeting prices between $0.50 and $5.00 as it enters a potential macro expansion phase.
https://cryptopotato.com/cardano-ada-just-broke-higher-the-data-says-it-wasnt-just-short-covering/