🚀 Cardano Futures Explode to $1.44B — Bulls Target $0.93 Breakout
Cardano (ADA) starts the week strong, trading at $0.82 after an 11% rally last week. Bullish sentiment is surging in derivatives markets:
Open Interest (OI) in ADA futures jumped from $1.20B (Aug 3) to $1.44B (Aug 11) — the highest since July.
Positive funding rates show longs paying shorts, a classic sign of bullish conviction.
Sudden flips from negative to positive funding have historically preceded major ADA price spikes.
📊 Technical Picture:
Support: $0.70 (held since Aug 3)
Resistance: $0.84 — breakout level
Target: $0.93 (July 21 high) if ADA closes above resistance
RSI: 61 — bullish momentum intact
MACD: Bullish crossover → buy signal
Why it matters:
Rising OI means fresh capital is entering ADA markets, often fueling bigger moves. If $0.84 breaks with volume, momentum traders could push price towards $0.93 quickly.
Bearish Risk:
Failure to break resistance may see a drop to $0.77 (61.8% Fib retracement).
