Cardano jumps 8%, $0.30 in focus as funding rate turn positive amid rising OI
The post Cardano jumps 8%, $0.30 in focus as funding rate turn positive amid rising OI appeared on BitcoinEthereumNews.com.
Cardano (ADA) rises above $0.28 as whale accumulation boosts short-term momentum. Positive funding rates and higher open interest support near-term gains. The key levels to watch are the support at $0.25–$0.27 and the resistance near $0.30–$0.35. Cardano (ADA) has surged over 8% in the past 24 hours, breaking above key short-term resistance levels. The price is now hovering around $0.286, bringing the $0.30 mark into focus for traders. Momentum has picked up sharply as derivatives data show positive funding rates and rising open interest. This price movement has attracted attention from mid-tier whale wallets. These investors, holding between one million and ten million ADA, have been actively accumulating during recent dips. Their buying has added upward pressure, tightening available supply in the market. Meanwhile, larger whale wallets, holding ten million to a hundred million ADA, have been reducing positions, suggesting some distribution at higher price levels, creating a mixed picture in the whale ecosystem. The balance between accumulation and distribution will likely influence price swings in the coming days. Technical analysis From a technical perspective, ADA has broken above a descending trendline that had capped price action near $0.25 for weeks. This breakout has set the stage for further gains as short-term indicators lean bullish. The relative strength index (RSI) sits above 50, indicating that momentum favours buyers, but it is not yet in overbought territory. The MACD has crossed above its signal line, and its histogram is expanding, signalling that buying momentum is gaining strength. Cardano price chart | Source: TradingView Price action has shown that the 20-day exponential moving average (EMA) is providing support near $0.27. Eyes are now on the 50-day EMA around $0.29 and the 100-day EMA closer to $0.34. Breaking these levels could open the door to further upside, but failing to hold above the…
Filed under: News - @ March 16, 2026 8:27 pm