Cardano Price Surges as ADA Open Interest Hits 7-Month High
Cardano price rallied 21% in a week, reclaiming eighth spot among top cryptocurrencies. ADA futures open interest surged to $1.13 billion, a seven-month high. Technical indicators, such as a bullish MACD crossover, signal momentum favoring buyers and potential breakout past $1.04. Analysts foresee a 10x surge that could push Cardano price toward $10. Rising open interest reflects growing trader participation, though it also raises liquidation risks if sentiment shifts. Meanwhile, meme coin presale TOKEN6900 has raised over $2.2 million, highlighting traders’ speculative appetite.
Bullish
Cardano price and ADA futures open interest hitting a seven-month high suggests strong bullish momentum. Historically, surges in open interest often coincide with sustained uptrends, as seen in Bitcoin’s early-2021 rally. The 21% weekly gain and bullish MACD crossover indicate buyer dominance, raising odds of a breakout above $1.04 and targets near $1.60. Analyst forecasts of a 10x rally reflect continued demand and a supportive market structure. However, elevated open interest also increases liquidation risk if sentiment abruptly shifts. Overall, the balance favors bullish conditions in both short-term trading and medium-term trend development.