TLDR
- Santander Openbank provides 2 million customers direct Cardano trading access across Germany and Spain
- ADA breaks above $0.94 with cup and handle pattern targeting $5.00 representing 430% potential upside
- TD Sequential buy signals emerge while derivatives open interest hits highest levels since July
- Technical analysis shows support holding at $0.86 with RSI stabilizing near neutral territory
- Fibonacci retracement recovery at $0.85 level confirms bullish momentum building
Cardano has gained institutional validation through Santander’s Openbank integration, providing 2 million European customers direct access to ADA trading. The September 16 announcement includes Germany immediately, with Spanish customers receiving access within weeks.
The banking partnership eliminates external platform transfers while ensuring MiCA regulatory compliance. Cardano joins Bitcoin, Ethereum, Litecoin, and Polygon in the traditional banking environment.
ADA currently maintains a $31 billion market capitalization despite recent volatility. The cryptocurrency’s integration alongside established digital assets demonstrates growing institutional acceptance.
Open interest in Cardano derivatives reached July highs, indicating renewed market participation. The metric suggests both institutional and retail traders are positioning for potential price movements.
Technical Patterns Signal Breakout Opportunity
Cardano trades at $0.94 following a 12.83% weekly gain. The price successfully cleared resistance between $0.75-$0.85 and approaches the critical $1.00 psychological level.
Chart analysis reveals ADA recaptured the 0.618 Fibonacci retracement at $0.85. This technical recovery suggests the downtrend exhaustion and potential reversal confirmation.
The weekly timeframe shows cup and handle pattern completion. Current price action represents the handle’s breakout phase after extended accumulation periods.
Analyst Ali Martinez identified TD Sequential buy signals across multiple timeframes. The indicator previously marked local tops accurately, supporting current bullish readings.
RSI indicators stabilized around 47 on shorter timeframes. This reading sits below neutral, suggesting selling pressure is diminishing while leaving room for upside momentum.
MACD indicators show histogram contracting with signal lines preparing for bullish crosses. These developments indicate possible momentum shifts from bearish to bullish control.
Support Levels Defend Against Selling Pressure
Recent price action saw ADA pull back to $0.86 before finding strong support. The cryptocurrency demonstrated resilience by bouncing from this key demand zone.
The $0.86-$0.87 range now serves as a critical decision point for market direction. Sustained trading above this level would confirm technical reversal patterns.
Higher low formations around $0.85 strengthen the bullish case. Market structure suggests sellers are losing control as buying interest increases near support.
The immediate challenge involves reclaiming $0.88-$0.90 resistance. A clean break above this zone could trigger recovery momentum toward higher targets.
Cardano Price Prediction
Next major resistance corresponds with the 0.786 Fibonacci level around $1.78. The previous cycle peak near $3.00 represents another key target zone.
The technical framework supports potential advances toward $5.00 as the primary extension target. This level represents approximately 430% upside from current prices.
Market participants monitor sustained trading above reclaimed support levels. This action would validate reversal patterns and support continuation toward higher targets.
Derivatives data confirms renewed interest with open interest at July peaks across major trading platforms.
