ADA has been on the move — up about 11% last week and holding above $0.82 this Monday. Derivatives data is flashing bullish: open interest has climbed from $1.20B on Aug 3 to $1.44B today, the highest since July, showing fresh capital flowing in. Funding rates have also flipped positive and continue rising, meaning longs are paying shorts — a sign the market is leaning bullish.
From the $0.70 support touched on Aug 3, ADA has rallied around 15%. A clean break and close above $0.84 could open the door to the July 21 high at $0.93. Momentum is on the bulls’ side with RSI at 61 and MACD showing a bullish cross.
If it can’t hold above $0.84, the next key support to watch is around $0.77 at the 61.8% Fibonacci retracement.
