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Cardano Holds Bullish Breakouts as Traders Target $1.20

Dominant whale long positions on Hyperliquid underscore confidence in ADA's technical strength as it maintains multiple breakout formations above critical support.

Overview

  • ADA holds breakout structures and trades above its 7-, 25- and 99-day moving averages, reinforcing bullish continuity.
  • Record bullish community sentiment ranks ADA second among crypto assets, with 75% of large traders on Hyperliquid positioned long.
  • Critical support at $0.784–$0.755 remains intact and a fall below $0.755 could expose lower levels near $0.74.
  • Bulls aim to clear resistance zones at $0.86–$0.88 as a gateway to psychological milestones at $1.00–$1.20.
  • A 73% drawdown from its all-time high places ADA in historical accumulation territory, suggesting potential for sustained recovery.