Cardano shows strong momentum with price, OI, and sentiment rising | Credit: Derek Fenech
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Key Takeaways
Cardano has climbed nearly 20% in the past week to $0.77, trading in an ascending parallel channel.
Open Interest has surged to $1.13 billion, a seven-month peak, signaling growing speculative demand.
The CMF confirms rising capital inflows and buying strength, reinforcing the bullish bias around ADA.
Cardano (ADA) price looks ready to push higher and break past the $1 milestone. Over the past seven days, ADA has climbed nearly 20%, fueling optimism that the rally will continue.
It’s not just the price making gains. CCN’s analysis shows that several key metrics across Cardano’s ecosystem are also rising — momentum that could give ADA the support it needs to extend its upward move.
Here’s what this means for Cardano’s short-term price outlook.
Cardano Holds Bullish Setup
Cardano’s price trades inside an ascending parallel channel on the 4-hour chart. As long as ADA holds within this channel, the trend favors higher highs and sustained upward momentum.
The Chaikin Money Flow (CMF) has also broken above the zero signal line, confirming that buying pressure is outpacing selling activity. This positive capital inflow suggests traders are positioning for further gains rather than exiting the market.
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Beyond that, the Supertrend indicator has flipped bullish, with its green line now positioned below ADA’s price. This position strengthens the buy signal and indicates that the market could treat the Supertrend line as strong support in the short term.
Should this trend remain the same, ADA bulls will likely defend the support at $0.77. If that happens, the next target for Cardano’s price could be to break the overhead resistance near the $1 psychological zone.
Amid this bullish structure, Cardano’s Open Interest (OI) has surged to $1.13 billion, according to Glassnode. This marks the highest level since January and sets a new seven-month peak.
The notable rise in OI signals increasing trader interest and growing speculative demand, which could amplify ADA’s price hike.
Should the OI continue to climb, Cardano’s price could break above $1 again for the first time since March.
However, it is essential to remember that the OI also raises the stakes. If sentiment flips bearish, long liquidations could accelerate a Cardano pullback.
ADA Price Chart Signals Strength
The daily chart reinforces this bullish structure. Within this timeframe, the Moving Average Convergence Divergence (MACD) has flashed a bullish crossover, with the 12-day EMA rising above the 26-day EMA.
This signal indicates that momentum is shifting in favor of buyers, strengthening the case for ADA to extend its rally. Should this remain the same, Cardano’s price might break the resistance at $1.04.
If that happens, the next level for ADA to reach could be around $1.60 as long as buying pressure increases.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
