💥 Cardano Bulls Eye Next Leg Up — $1.44B OI Signals Strong Interest
Cardano’s price is on the rise this Monday after gaining about 11% last week. Growing open interest and favorable funding rates are pointing toward a bullish sentiment in the derivatives market, while momentum indicators suggest the rally could continue.
Currently trading above $0.82, ADA’s open interest has surged from $1.20B on August 3 to $1.44B today — the highest since July — showing new capital flowing in and potentially fueling further price gains. Funding rates also flipped positive last week and have been climbing since, meaning long positions are paying shorts, a sign of market optimism. Historically, such shifts have often coincided with ADA price increases.
Price Outlook:
After bouncing from the $0.70 support on August 3, ADA climbed around 15% through Sunday and is up another 3% today. A sustained close above the $0.84 resistance could open the door to retesting the July 21 high of $0.93.
Momentum signals are supportive — the RSI stands at 61 (above neutral), and the **MAC
