Retail sentiment and smart money agree, buying power is concentrated near the $0.61 support zone.
Funding Rate increased despite Open Interest decreasing, reflecting cautious optimism in the derivatives market.
ADA Sentiment: A Rare Consensus Between Retail and Institutional Investors
Sentiment on Cardano (ADA) is turning extremely bullish as both retail investors and smart money are buying. It is a rare period when both market segments are in such a positive mood.
According to Market Prophit data, the community sentiment score reached 1.52 at the time of writing, while smart money recorded a more modest 0.72, both in positive territory.
Analysis from CryptoQuant shows that the 90-day CVD Spot Taker indicator remains biased towards buying, further reinforcing bullish sentiment for ADA.
With ADA trading at $0.6218, down 3.08% over the past 24 hours, market sentiment could become a major driver if the price holds key technical levels.
ADA's Decisive Demand Zone: Will Buying Power Break Out?
ADA is moving close to the key support zone around $0.61 – a level that has held since early May. Overall, ADA price is still moving within a long-term descending channel pattern, continuously respecting the lower boundary of this structure.
Meanwhile, the RSI indicator is showing a potential reversal as the 14-day RSI reached 36.62. This weak momentum could open up opportunities for buyers.
If buyers take advantage of the psychological advantage and successfully defend at $0.61, a recovery to the $0.84 zone within the price channel is entirely possible.
Source: TradingView
ADA Derivatives Indicator: Leverage Down, But Funding Rate Positive
On-chain derivatives data paints a mixed picture. Open interest fell 3.35% to $746.81 million, suggesting some leveraged investors are consolidating positions to limit risk.
However, the Funding Rate has turned positive, with the OI-Weighted Funding Rate reaching 0.0096% – this shows that the Long side is willing to pay to hold the position, reflecting bullish sentiment despite reduced liquidity.
Stablecoin Outflows: Liquidity Pressure and ADA’s Contrarian Signals
Market liquidity is tightening with stablecoin capitalization down 3.25% over the past week, currently at $31.38 million.
However, Cardano (ADA) still recorded overwhelming buying power, despite the overall cryptocurrency market withdrawal trend. This shows that ADA still maintains attractive profits for local cash flows.
This divergence proves that ADA is able to attract outstanding demand, despite the weakening capital flows into cryptocurrencies in general.
If stablecoin flows return and price support consolidates, the possibility of ADA breaking out higher will be stronger than ever.
Source: DefiLlama
Binance Derivatives Status: Longs Dominate, Potential Long Squeeze Risk
According to the latest Binance Futures data, up to 73.54% of ADAUSDT perpetual accounts hold Long positions, only 26.46% choose Short. The Long/Short ratio reached 2.78, emphasizing high recovery expectations.
This is a sign that most traders expect ADA to bounce strongly from the current zone.
However, the overly bullish sentiment means that the risk of a Long Squeeze increases if the $0.61 support breaks. The persistence of the buyers in the derivatives market will be tested strongly in the next few sessions.
Will ADA's bullish momentum break the support zone?
Market sentiment, demand, and technical structure are all converging at a decisive point for ADA. If the bulls hold the $0.61 support zone, the possibility of a return to the upper band of the price channel is very high.
Conversely, any break could quickly turn negative. The next few sessions will be pivotal in determining whether ADA’s uptrend continues to dominate or quickly reverses under selling pressure.
Source: https://tintucbitcoin.com/cardano-giu-day-nao-de-cham-084-usd/
Thank you for reading this article!
Please Like, Comment and Follow TinTucBitcoin to stay updated with the latest news about the cryptocurrency market and not miss any important information!
