#WalletActivityInsights Cardano #ADA Shows Encouraging Signs of Potential Growth Thanks to Favorable Market Conditions and Trader Optimism
After recent fluctuations, Cardano ($ADA ) is preparing to break through key resistance levels. Positive investor sentiment and overall bullish signals give the token a chance to recover.
Despite the volatility of the crypto market, Cardano’s funding rate remains positive. This mechanism ensures a balance between long and short positions in the perpetual futures market . Positive values indicate dominance of long positions and mean that the contract price is higher than the spot price. This means that more traders are buying the coin with the expectation of selling it at a higher price and are willing to pay a premium to maintain long positions.
Expectations of price growth indicate optimism about the future prospects of ADA. Market sentiment has been volatile in recent weeks. However, the funding rate trend suggests that traders are preparing for a rally, not a fall.
The Relative Strength Index (RSI) is near 50 and could soon move into bullish territory. Such a move would indicate increased buying pressure, and ADA could continue to strengthen if the momentum continues.
A move above 50 in the RSI would confirm that Cardano's current momentum is part of a broader recovery trend and support the possibility of a breakout in the coming weeks. Cardano could rise to $0.99, potentially recouping February’s losses. A successful breakout above $0.99 would bring the altcoin closer to $1.00, bolstering investor confidence. $ADA
