Cardano Price Prediction: ADA Breaks Out As Grayscale Lifts Exposure To 18.33%
The post Cardano Price Prediction: ADA Breaks Out As Grayscale Lifts Exposure To 18.33% appeared on BitcoinEthereumNews.com. ADA derivatives volume surged 129.80% to $917.34M and open interest climbed 6.94% as price broke above a descending triangle held since February Grayscale raised ADA’s weight to 18.33% in its smart contract fund on May 7, keeping it third behind Solana and Ethereum Retail longs are piling in at a 2.37 ratio on Binance while shorts build positions above price ahead of Thursday’s CLARITY Act vote Cardano trades at $0.2777 on May 11, fading after tagging $0.2829 intraday, one session after breaking a three-month descending triangle that had compressed price since February while Grayscale quietly raised its ADA allocation to 18.33%. ADA Daily Chart: Triangle Breakout Stalls at the 100 EMA Cardano Daily Price Action (Source: TradingView) From February through late April, ADA ground inside a descending triangle with lower highs pushing toward rising support near $0.24.