Cardano (ADA) is regaining momentum, trading around the $0.84 level after successfully rebounding from a key support zone. A combination of bullish market sentiment and strong on-chain metrics is driving this recovery.
The derivatives market is increasingly optimistic about ADA’s future. Data from Coinglass shows that Cardano’s OI-Weighted Funding Rate has turned positive, with longs now paying shorts. This indicates that traders are betting on further price increases, signaling a clear shift in sentiment toward the bulls.
Network fundamentals are also strengthening. The market capitalization of ADA-based stablecoins has reached a new record of $40.37 million. While not the largest in the industry, this growth is a significant milestone for Cardano, as stablecoin activity often boosts overall network health, liquidity, and user engagement.
From a technical perspective, ADA’s 4-hour chart has broken out of a bullish “falling wedge” pattern. If this momentum continues, the next price target for ADA could be around $0.92, a key Fibonacci retracement level. On the daily chart, the token also found strong support at its 100-day EMA at $0.77. Technical indicators like the MACD suggest that bearish momentum is fading, and bulls may be taking control.
September 2025, Cryptoniteuae
