🔥 Cardano ($ADA ) shows strong recovery signals!
Cardano (ADA) is showing clear signs of recovery after bouncing back from an important support zone last week.
📊 On-chain data & derivatives:
Open Interest (OI) of ADA futures contracts increased from 1.54 billion USD → 1.77 billion USD, approaching the record of 1.87 billion USD → indicating that new capital continues to flow in.
Stablecoin in the Cardano system reached 38.58 million USD, reflecting abundant liquidity, strengthening the ecosystem, and attracting more investors.
💹 Technical analysis:
On August 13: ADA broke the downtrend that had lasted since late 2023, testing the psychological threshold of 1 USD.
After a correction, ADA is currently fluctuating around 0.92 USD.
If the upward momentum is maintained, ADA may test 1.02 USD again, surpassing this level will aim for 1.17 USD (yearly high).
RSI at 58 → bulls dominate, MACD converging → the market is still uncertain.
Conversely, in a worst-case scenario, ADA could test 0.84 USD again.
👉 Clear recovery signals, but the market remains volatile – pay close attention to the zones of 1.02 USD and 0.84 USD in the short term.
⚠️ The information is for sharing purposes only, not investment advice.
