TLDR
- Cardano price gained nearly 11% last week, trading above $0.82 on Monday
- Open Interest rose from $1.20 billion to $1.44 billion, reaching highest level since late July
- Funding rates flipped positive, indicating bullish sentiment among traders
- Technical analysis shows bullish flag breakout with momentum indicators favoring upside
- ADA sitting at 73% drawdown from all-time high, historically a zone for potential reversals
Cardano price continues its upward momentum on Monday, building on last week’s gains. The cryptocurrency has attracted renewed interest from traders as key metrics point to strengthening bullish sentiment.
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.
Technical Indicators Support Upward Move
Cardano found support at the key $0.70 level on August 3. From there, it rallied nearly 15% through Sunday.
The Relative Strength Index sits at 61 on the daily chart. This reading above the neutral 50 level suggests bullish momentum is building.
The Moving Average Convergence Divergence indicator shows a bullish crossover. This gives buy signals and points to the start of an upward trend.
If ADA closes above daily resistance at $0.84, it could extend the rally toward $1.00. A failure to break above $0.84 could see the price pull back to support around $0.77.
Cardano Price Prediction
Technical analysts point to a bullish flag pattern breakout on longer timeframes. Cardano is holding above the broken resistance level of this formation.
#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
The cryptocurrency trades above its 7-day, 25-day, and 99-day moving averages. This alignment of short, medium, and long-term trends supports the bullish case.
Cardano price currently sits at approximately 73% drawdown from its all-time high. This places it within a historical range often associated with accumulation phases.
Deep retracements of this magnitude have typically occurred during extended basing periods. These consolidation phases often precede meaningful trend reversals.
The current retest of breakout levels near $0.78 could serve as confirmation of the bullish structure. If this level holds as support, the next resistance zone sits between $0.86 and $0.88.
Analysts suggest the measured move from the bullish flag pattern could target the $1.60 area. Some projections extend even higher, with the $2.00 level being discussed as a potential target for 2025.
Volume patterns and momentum indicators remain constructive during the current pullback. This suggests the retracement represents a technical cooldown rather than a breakdown of the bullish structure.
Open Interest in Cardano futures reached $1.44 billion on Monday, with positive funding rates supporting the bullish outlook for further price gains.
