Cardano (ADA) Price Prediction: Bullish Signals Points to a Breakout to $1

Cardano price prediction: ADA gained 11% last week with Open Interest reaching $1.44 billion and positive funding rates supporting further upside.

ADA gained almost 11% during the previous week. The price now trades above $0.82 at the time of writing on Monday.

Futures Open Interest in Cardano jumped from $1.20 billion on August 3 to $1.44 billion on Monday. This marks the highest level since the end of July and represents consistent growth.

Rising Open Interest indicates new money entering the market. This fresh capital could provide fuel for the current price rally.

The funding rate data tells a similar story. Cardano’s funding rate turned positive last week and has been climbing steadily.

Positive funding rates mean long positions are paying short positions. This typically signals bullish market sentiment.

Historical patterns show that sharp reversals from negative to positive funding rates often coincide with strong price rallies in Cardano.