🚨 $ADA is finally showing some strength.
Cardano is around $0.21, up about 11% today, after bouncing from the ~$0.17 area. The recovery is real, but there are still reasons to stay cautious.
One negative point: Grayscale withdrew its proposed Cardano ETF registration on August 7. That doesn’t mean ADA is rejected by the SEC, but it does remove one potential institutional catalyst for now.
On the positive side, Cardano network activity has recently picked up, with daily transactions rising sharply.
📊 Technically:
ADA is now above the 1H Bollinger middle band at $0.2065 and approaching resistance around $0.218–0.221.
🟢 Break above $0.221 → next zones $0.23–0.24
🔴 Rejection → $0.206 first, then $0.192
My position is still sitting at more than -200%. 😅
But after this recovery, the question becomes interesting:
Can ADA eventually turn this position into profit? 👀
For now, I’m watching $0.22. If bulls reclaim it and hold, the picture gets much more interesting.
#ADA #Cardano #Crypto #futures #Trading
Cardano is around $0.21, up about 11% today, after bouncing from the ~$0.17 area. The recovery is real, but there are still reasons to stay cautious.
One negative point: Grayscale withdrew its proposed Cardano ETF registration on August 7. That doesn’t mean ADA is rejected by the SEC, but it does remove one potential institutional catalyst for now.
On the positive side, Cardano network activity has recently picked up, with daily transactions rising sharply.
📊 Technically:
ADA is now above the 1H Bollinger middle band at $0.2065 and approaching resistance around $0.218–0.221.
🟢 Break above $0.221 → next zones $0.23–0.24
🔴 Rejection → $0.206 first, then $0.192
My position is still sitting at more than -200%. 😅
But after this recovery, the question becomes interesting:
Can ADA eventually turn this position into profit? 👀
For now, I’m watching $0.22. If bulls reclaim it and hold, the picture gets much more interesting.
#ADA #Cardano #Crypto #futures #Trading