Cardano (ADA) is maintaining a solid sideways trend around the $0.40 mark as of Monday, after the price convincingly closed above the descending channel pattern last week. The developments in the derivatives market reflect a clear improvement in sentiment, as the open interest (OI) of ADA increased, along with a rise in long positions within the trader community.
Positive Sentiment for Cardano in the Derivatives Market
Data from CoinGlass shows that the open interest (OI) of Cardano futures contracts on exchanges surged to $851.17 million on Monday, up from $644.34 million recorded the previous Tuesday, setting the highest level since mid-December. The strong increase in OI indicates that new capital is actively flowing into the market, reflecting growing demand and potentially serving as a key catalyst, fueling the current bullish trend of ADA.
Source: CoinGlass
Alongside this, the long/short ratio of Cardano on CoinGlass has also continuously improved, reaching 1.06 on Monday, approaching the highest level of the month. The ratio surpassing 1 suggests that optimistic sentiment is prevailing, as more traders are betting on ADA’s price continuing to rise in the near future.
Source: CoinGlass
Cardano Price Forecast: ADA closes above the channel pattern
The price of Cardano has made an impressive breakout by closing above the upper trendline of the descending channel pattern—a technical structure formed since mid-October by connecting significant peaks and troughs. This upward momentum was maintained gently until Sunday, with ADA trading around the $0.40 level at the start of the week.
In a positive scenario, if Cardano maintains its current momentum, the price could extend its recovery toward the nearest resistance zone at $0.42, coinciding with the 50-day exponential moving average (EMA). A daily close above this level would act as a catalyst, paving the way for further gains toward the important resistance zone at $0.49.
Daily ADA/USDT Chart | Source: TradingView
Technical indicators also support the bullish trend. The Relative Strength Index (RSI) on the daily timeframe is at 55, surpassing the neutral 50 level, indicating that buying pressure is gradually gaining dominance. Meanwhile, the MACD has issued a bullish crossover signal, with expanding green histogram bars above the neutral line, further strengthening the optimistic outlook.
However, if profit-taking pressure emerges, ADA still faces the risk of correction and could retreat to the nearest support zone around the recent low at $0.32.
SN_Nour
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
BTC 15-minute surge of 0.84%: Upward momentum driven by insufficient liquidity and the resonance between futures premium arbitrage
2026-04-05 15:15 to 15:30 (UTC), the BTC price fluctuated within the 66,938.9 to 67,529.9 USDT range, with a 15-minute return of +0.84% and a volatility (amplitude) of 0.88%. During the same period, market trading activity increased: the number of active on-chain addresses over 10 minutes reached 420,690, short-term buying sentiment improved, and attention to the market was boosted.
The main drivers behind this move are persistent liquidity tightness in the spot and derivatives markets. Current trading volume is significantly lower than the range since the end of 2023, and the threshold for buy-side pressure to push prices higher has dropped markedly.
GateNews1h ago
Hyperliquid Price Gains as Futures Activity Lifts Momentum
Key insights
Hyperliquid open interest climbed above one point six billion dollars, signaling stronger derivatives participation and reinforcing current price momentum across markets.
Commodity perpetuals and event contracts increased trading activity, pushing daily volumes past two point fo
CryptoNewsLand1h ago
Saylor responds to Schiff: Bitcoin has been the best performer since August 2020—time horizon matters
Peter Schiff said that Bitcoin has risen only 12% over the past five years and has underperformed the Nasdaq, the S&P 500, gold, and silver; Michael Saylor then responded that Bitcoin has been the best mainstream asset since August 2020, emphasizing the importance of the time frame.
GateNews2h ago
Robert Kiyosaki recommends Bitcoin, gold as 1974 shift comes full circle
Rich Dad Poor Dad author Robert Kiyosaki has argued that the economic shifts set in motion more than five decades ago are now unfolding, advocating for Bitcoin and gold while warning against rising debt, inflation and retirement risks.
In a Saturday post on X, Kiyosaki pointed to 1974 as a
Cointelegraph3h ago
DOGE Defends Key Support While On-Chain Activity Increases
DOGE active addresses jumped 28% in one week, showing growing network engagement.
Price holds critical levels near $0.0912–$0.0928 despite minor dips.
Breaking above $0.0930 could target $0.0950, $0.0980, and potentially $0.10.
Dogecoin — DOGE, has shown interesting movements this week,
CryptoNewsLand4h ago
Is Bitcoin mispricing a prolonged Iran war? Ex-hedge fund manager weighs in
James Lavish warns Bitcoin holders that continued conflict in Iran could trigger inflation and market downturns. While Bitcoin may face further declines, he sees potential long-term opportunities. He discusses the impact of global economic pressures on investments.
Cointelegraph5h ago
