Cardano price outlook: Can ADA continue its upward move toward $0.245?

Main points

• Cardano is changing hands near $0.222 on Monday, following a weekly increase of over 15%.
• ADA’s long-to-short ratio stands at 0.94, indicating bearish positioning slightly outweighs bullish bets.
• Positive funding rates and notable whale transactions offer somewhat constructive signals.
• The RSI and MACD are pointing to rising bullish momentum.

Cardano maintains ground after 15% weekly surge

On Monday, Cardano (ADA) is trading around $0.222 after climbing more than 15% in the previous week.

Mixed derivatives figures and somewhat favorable on-chain metrics point to a cautious mood among market participants. Still, improving technical indicators imply that ADA could push higher if buyers manage to break through a band of resistance from $0.231 to $0.245.

The token is now situated above its 50-day and 100-day exponential moving averages, reinforcing a brighter near-term picture.

Cardano’s derivatives market shows a split view as of Monday. According to CoinGlass data, ADA’s long-to-short ratio is 0.94. A figure under 1 signals that short positions exceed long ones, meaning a slim majority of traders anticipate a price drop rather than a rise.

Yet the gap between bullish and bearish bets remains fairly small, implying traders are exercising caution rather than holding a firmly bearish view.

Funding rates provide a more upbeat indication. Cardano’s open-interest-weighted funding rate became positive on Saturday and was recorded at 0.0097% on Monday.

When funding rates are positive, long-position holders pay those with shorts, a situation that often reflects growing demand for bullish exposure. This change hints that sentiment has brightened after ADA’s double-digit weekly advance.

CryptoQuant’s aggregate data also points to a cautiously optimistic tone surrounding Cardano.

Large whale trades have been spotted in ADA’s futures market, pointing to heightened activity among deep-pocketed traders. Most other tracked indicators remain neutral, which curbs the strength of the bullish signal.

The pairing of sizable orders with neutral broader measures suggests that institutional or whale interest may be picking up, but the market has not yet shifted to a decisively bullish posture.

Continued buying by large participants could help sustain ADA’s recovery, while a drop in whale activity might leave the token exposed to profit-taking.

Cardano momentum indicators pick up

ADA’s price is still above the 50-day and 100-day EMAs, both situated around the psychologically significant $0.200 level.

On the daily chart, the Relative Strength Index is near 61. This level indicates solid bullish momentum while staying under the overbought mark of 70, suggesting ADA may still have room to climb before the rally becomes extended.

The Moving Average Convergence Divergence indicator has also turned slightly positive. This change signals that buyers are slowly taking charge, although a descending trendline continues to act as a dynamic barrier.

Together, the RSI and MACD point to a favorable short-term outlook, but ADA needs to break through several overhead hurdles to confirm a sustained recovery.

Immediate resistance for Cardano lies at the 61.8% Fibonacci retracement close to $0.231. A push above that would shift attention to horizontal resistance at $0.236.

The 200-day EMA is around $0.243, just under another key resistance at $0.245. This clustering of technical obstacles could entice profit-taking and slow ADA’s advance.

A decisive move above $0.245 and the descending trendline would bolster the bullish argument and potentially pave the way for a more significant rebound.

On the downside, failing to clear $0.231 might prompt a retreat toward the 50% Fibonacci retracement at $0.213.

Beneath that, the 100-day EMA near $0.200 and the 50-day EMA around the 38.2% Fibonacci retracement at $0.195 form a wider support zone. Further support levels are located at $0.173 and $0.150.

ADA’s outlook stays cautiously bullish as long as the price holds above $0.200, but breaking through the $0.231–$0.245 resistance zone will be essential for prolonging the rally.