Cardano (ADA) has extended its recovery, approaching a key resistance zone at $0.258. While the price is trading above $0.255, it still lags behind the 50-day Exponential Moving Average (EMA) at $0.258 and well below the 100-day and 200-day EMAs.
The derivatives market shows mixed signals, with CoinGlass' OI-Weighted Funding Rate data flipping positive on Monday, indicating a mildly bullish market bias. However, funding rates have been swinging between positive and negative since last week, highlighting unstable trader conviction.
CryptoQuant's summary data for Cardano also reflects neutral conditions among spot and futures traders, suggesting that market participants remain cautious despite the recent price recovery.