Cardano Price Surges 11% Last Week with $1.44B Futures Open Interest Spike
Cardano (ADA) has gone above $0.82 as of Monday after an 11% gain in the past week. Derivatives data shows a growing bullish...
Quick overview
- Cardano (ADA) has risen above $0.82 after an 11% gain in the past week, with increasing bullish sentiment reflected in rising futures Open Interest.
- Positive funding rates indicate that longs are paying shorts, suggesting optimism among market participants for potential price increases.
- Technical indicators show strong momentum for ADA, with support found at $0.70 and a potential target of $0.93 if it breaks above $0.84.
- However, if ADA fails to surpass $0.84, it may retrace to the Fibonacci support level at $0.77.
Cardano (ADA) has gone above $0.82 as of Monday after an 11% gain in the past week. Derivatives data shows a growing bullish sentiment with the futures Open Interest (OI) on major exchanges rising from $1.20 billion on August 3 to $1.44 billion. This is the highest OI since late July and means more capital is flowing into ADA markets. Rising OI means new buying interest which can be fuel for sustained price moves.
At the same time, Cardano’s funding rates have turned positive. This means longs are paying shorts, a classic sign of bullishness. Historically, a sharp funding rate reversal like this often precedes strong price upmoves for ADA, so the market participants are optimistic.
📊Market Insight📊 Crypto surges as Bitcoin climbs to 116503 up 1.65 and Ethereum jumps 5.63 near 3903. XRP leads with an 11 percent rally while Cardano moves up 6.72. Despite mixed equity vibes globally, moderating inflation drives renewed risk appetite. Bitcoin eyes 127865 if…
— Crypto Zone 🆇 (@cryptozone_x) August 8, 2025
Cardano (ADA/USD) Momentum Indicators Bullish
Technically, Cardano found support at $0.70 on August 3 and since then ADA has gone up 15% to close at $0.82 on Sunday and 3% up on Monday. If ADA can break and hold above $0.84, analysts expect a move to the July 21 high of $0.93.
Key momentum indicators support this:
- Relative Strength Index (RSI): 61, above 50, buying pressure increasing.
- Moving Average Convergence Divergence (MACD): Bullish crossover, start of an upmove.
These indicators show strong momentum if the conditions hold.
Cardano (ADA/USD) Risks and Support Levels
Despite the good outlook, be careful. If ADA fails to break above $0.84 it could pull back short term. In that case Cardano might retrace to the 61.80% Fibonacci support at $0.77. This level has been a strong price floor during corrections and is a level to watch for potential bounce or further down.
- Check out our free forex signals
- Follow the top economic events on FX Leaders economic calendar
- Trade better, discover more Forex Trading Strategies
- Open a FREE Trading Account
Save