TLDR
- Cardano (ADA) is trading above $0.82 after gaining nearly 11% last week
- Open Interest has risen from $1.20 billion to $1.44 billion, indicating new money entering the market
- Funding rates have flipped positive, showing bullish sentiment among traders
- Technical indicators (RSI at 61 and MACD showing bullish crossover) support further upside
- Bulls are eyeing potential targets of $0.93 in the short term and possibly $2.00 in 2025
Cardano (ADA) has been gaining momentum in recent trading sessions, climbing above $0.82 on Monday after an impressive 11% gain in the previous week. The cryptocurrency appears to be building strength as derivatives data and technical indicators align to support further upside potential.
The price action comes as traders show increased confidence in ADA’s prospects. After finding support around the key $0.70 level on August 3, Cardano has rallied nearly 15% through Sunday, with Monday’s trading extending those gains by an additional 3%.
Market data reveals strong bullish sentiment building behind ADA’s price movement. Futures Open Interest has seen a substantial increase, rising from $1.20 billion on August 3 to $1.44 billion on Monday. This marks the highest level since late July.
This rising Open Interest is particularly important as it represents new money entering the market rather than just price fluctuations of existing positions. The influx of fresh capital suggests growing conviction among traders about ADA’s upward trajectory.
Further supporting the bullish case, Cardano’s funding rate has flipped positive last week and continues trending upward. This indicates that long position holders are paying shorts, a classic sign of optimistic market sentiment.
Technical Outlook Supports Rally Continuation
The technical picture for Cardano aligns with the positive derivatives data. On the daily chart, the Relative Strength Index (RSI) reads 61, positioning it comfortably above the neutral 50 level and confirming increasing bullish momentum.
The Moving Average Convergence Divergence (MACD) indicator is also flashing buy signals after showing a bullish crossover. This technical formation often marks the beginning of an upward trend.
ADA is now testing a critical resistance level at $0.84. A daily close above this threshold could open the path toward the July 21 high of $0.93, representing the next significant target for bulls.
In case of a pullback, support can be expected around the 61.8% Fibonacci retracement level at $0.77. The $0.78 zone, which previously acted as resistance, may now flip to become support during any retracements.
Price structure shows a healthy sequence of higher highs and higher lows, maintaining the broader bullish bias even during short-term pullbacks. The cryptocurrency is trading above its 7-day, 25-day, and 99-day moving averages, indicating alignment of short, medium, and long-term trends.
Long-Term Potential Points to $2.00
Looking at the bigger picture, Cardano’s current position appears particularly favorable for long-term investors. ADA is currently in a 73% drawdown from its all-time high, placing it in a range historically associated with accumulation phases and eventual trend reversals.
Technical analysts have identified a bullish flag pattern breakout on higher timeframes, which typically signals continuation of the broader uptrend. If momentum carries ADA past the near-term targets, a measured move projection points to the $1.60 level.
#ADA is holding strong above the broken bullish flag resistance
This 2D structure confirms bulls are in complete control — pattern breakout is validated
If momentum sustains, $ADA could ROCKET toward $1.60
pic.twitter.com/6pKi3rE8gL
— Butterfly (@butterfly_chart) August 10, 2025
Beyond that, many market participants are eyeing the psychological $2.00 milestone as a potential target for 2025. This projection is supported by the clean technical base forming now and historical cycle patterns that favor extended uptrends following deep retracements.
The current retest of the $0.78 breakout level appears to be a healthy technical cooldown rather than a breakdown in structure. Volume patterns remain constructive during this consolidation phase, suggesting that sellers have not regained meaningful control of the market.
If Cardano maintains its position above key moving averages and the bullish flag pattern holds, the technical framework strongly favors continuation toward higher price targets in the coming months.
For now, traders are closely watching whether ADA can close above the daily resistance at $0.84, which would confirm the next leg of the rally has begun.
Cardano’s short-term price action in the days ahead will likely determine if momentum is sufficient to challenge the July high of $0.93, setting the stage for a potential move toward larger targets later this year and into 2025.
The post Cardano (ADA) Price: Derivatives Data Supports Continuation of 15% Rally appeared first on Blockonomi.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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