#BTCBreaksATH The 9.8% increase in Cardano over 24 hours reflects optimism for ETFs, accumulation by large investors ("whales"), and a bullish technical momentum amid a widespread rally in the crypto market.
1. Speculation about ETFs (75% approval probability according to Bloomberg) boosted positive sentiment.
2. Whales added 40 million ADA in 48 hours, reducing selling pressure.
3. The technical breakout above the resistance of $0.685 generated a short-term FOMO (fear of missing out) effect.
The ADA rally combines the speculative momentum from ETFs, the strategic positioning of whales, and the technical validation of the breakout. Although overbought conditions suggest potential consolidation, maintaining the level above $0.68 could pave the way towards $0.73 (38.2% Fibonacci level).
#TrendTradingStrategy #FOMCWatch
