🔥 ADA Sparks Reversal Hopes — Is This the Comeback No One Saw Coming?

Cardano tests $0.69 barrier after technical indicator signals buy.

A little rise in derivative Open Interest of $831 million reflects ADA trader interest.

After peaking at $415 million on May 11, Cardano's DeFi TVL continues to fall.

After testing support at $0.65, Cardano (ADA) rose to $0.69 on Tuesday. The small rise comes amid crypto market consolidation and global macroeconomic pressures, mostly fuelled by US tariff worries.

Cardano is bullish.
ADA fell below $0.65 during last week's crypto market sell-off before recovering on Monday. After a court verdict against President Donald Trump's tariffs, US tariff uncertainty caused a chain of losses. An appeals court temporarily stayed the tariff ban, but uncertainty lingers.

Cardano's rally from $0.65 convinced traders it may reach $1.00, a supply-rich territory. The futures market Open Interest (OI) rose 2.2% to $831 million in the previous 24 hours, indicating increased interest in ADA, especially with trading activity exceeding $1 billion.

A 2.83 long-to-short ratio indicates a bullish tilt among Binance futures traders. The liquidation of $198,000 in long positions in the previous 24 hours, compared to $394,000 in shorts, suggests a short squeeze that might boost ADA price.


Cardano's bullish structure is supported by a SuperTrend buy signal. This trend-following tool measures market volatility using ATR. ADA's price above the SuperTrend line, which turns red to green, indicates a buy signal. This indicator's dynamic support and resistance level supports Cardano's positive view.


DeFi TVL decline may hinder Cardano's rebound.

Despite the positive outlook, traders should be cautious since the Moving Average Convergence Divergence (MACD) indicator flashed a sell warning on May 17. This suggests selling ADA when the blue MACD line falls below the red signal line.

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