Cardano is currently A lot of difficult momentum appears The buyers were also returning to the encryption market. Although its price is still less than $ 1 sign, there was a lot of activity surrounding Altcoin, which may indicate an increase in the horizon. This extension of the increasing interest of encryption traders and investors alike, to encryption analysts who predict that technicians show a bullish reflection on the graph.
Cardano’s open attention increases 25 %
One of the main developments of Cardano in the past few days has been the high interest that Altcoin was getting the market. This appears in A steady rise in the open attention to the encrypted currency During the past few weeks, its climax has reached a big jump in a period of 24 hours.
Coinglass data shows that between May 21 and May 22, Cardano’s open interest increased from 902.27 million dollars to 958.05 million dollars. This means 25 % increase in open interest in only 24 hours. This is also far from the lowest level in May 715.01 million dollars so far, especially since investors have started making their bets.
In general, the open interest is the amount of open futures or options for certain encrypted currencies. It takes into account the total amount invested in ADA derivative products at any time, taking into account the long and short positions. This means that if the open attention is decreased, then encryption dealers put fewer bets and if the open attention rises, then they take more situations in Altcoin.
With an open interest and more bets are placed, the bears appear to expect the price of Cardano to be disrupted from here. This appears by Long/short percentage It indicates 49.71 % of all tall bets and 50.29 % of long bets.
ADA separates from the falling pattern of fall
After the previous price collapsed, Cardano returned to the falling shed style where altcoin was traded in a narrow range. Now, with bitcoin price at the highest new level ever and a decrease of Altcoins, Cardano explodes from the falling pattern.
Jimmyx encryption analyst High This is in the X Publishing, showing a penetration path. The price is already moving towards The first goal of $ 0.9508 After crossing the mark of $ 0.8. The next two goals for this penetration is $ 1.0295 and $ 1.1316.
Distinctive image from Dall.e, Chart from TradingView.com
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