On 18 September, Cardano climbed from $0.245 to $0.255, a 4.3% hike. The Open Interest also advanced northward steadily, but the sentiment was not strongly bullish.
from Input Output Global showed the team continued to work to enhance the network, which is something long-term holders will take heart from. But this will likely have little bearing on prices in the near term.From 17 August to 29 August, ADA registered a bounce that reached from $0.238 to $0.28. Highlighted in orange these levels marked the extremes of a range that ADA has traded within for close to a month. The mid-point of this range sat at $0.
At press time ADA was close to the mid-range resistance once more. While the Relative Strength Index showed strong bullish momentum in recent days, the On-Balance-Volume did not reflect firm buying pressure. The local resistance on the OBV must be breached before the indicator would signal bullish intent.
The market structure on the four-hour chart was bullish, but the $0.259-$0.26 region represented a short-term bearish stronghold. ADA bulls were likely to face rejection after a move into this zone.On 18 September, Cardano climbed from $0.245 to $0.255, a 4.3% hike. The Open Interest also advanced northward steadily. When the bulls ran into some trouble at $0.255 and the price dipped to $0.251, the Open Interest plunged lower.
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