Cardano (ADA) has surged 10-11% weekly, trading above $0.82 as technical indicators flash bullish signals. Analysts identify an 8-month descending triangle breakout with a $1.30 target and a bullish flag pattern targeting $1.60-$2.00. This momentum is reinforced by whale accumulation of over 200 million ADA in 48 hours and derivatives data showing:
• 13% weekly Open Interest surge to $1.44 billion (highest since late July)
• Binance long/short ratio at 2.6 (72% bullish bets)
• Funding rates flipping positive, historically preceding ADA rallies
Catalysts include potential U.S. rate cuts starting September, a Trump-signed executive order enabling crypto exposure in $9 trillion 401(k) markets, and a 90% probability of SEC approving a Cardano ETF by October 10. Technicals show ADA holding above key Fibonacci support at $0.70, with RSI (61) and MACD golden crosses confirming buyer dominance. Immediate resistance lies at $0.84-$0.94, with breakouts potentially triggering a 68% surge to $1.30. Long-term projections reach $3-$10 (1,150% gain) fueled by Midnight blockchain integration and institutional adoption.
Near-term volatility risks remain from August 12 PPI and August 14 CPI data impacting rate-cut timelines.