$ADA is forecasted to rise sharply, targeting 1.00 USD as open interest surges

Cardano (ADA) is experiencing a bull market, currently priced at 0.87 USD with a gain exceeding 4%. Open interest has skyrocketed to 1.43 billion USD, reflecting increased participation from retail investors.

Technical signals, including a buy signal from MACD, indicate that ADA's bullish trend is strong. However, ADA needs to break through a major downtrend line for the price to aim for the 1.00 USD target.

Recent liquidations totaled 3.35 million USD, mostly from short positions, reinforcing bullish sentiment. The emergence of multiple Golden Cross patterns also supports ADA's upward trend in the near future.