Cardano price forecast: Can ADA extend its recovery toward $0.245?

Key takeaways

• Cardano trades near $0.222 on Monday after rallying more than 15% last week.
• ADA’s long-to-short ratio of 0.94 shows slightly more bearish than bullish positioning.
• Positive funding rates and large whale orders provide mildly bullish signals.
• The RSI and MACD indicate strengthening upside momentum.

Cardano holds gains following 15% weekly rally

Cardano (ADA) trades around $0.222 on Monday after gaining more than 15% last week.

Mixed derivatives data and mildly positive on-chain indicators reflect cautious sentiment among traders. However, strengthening technical momentum suggests ADA could extend its recovery if buyers overcome a cluster of resistance levels between $0.231 and $0.245.

The token currently trades above its 50-day and 100-day exponential moving averages, reinforcing its improving short-term outlook.

Cardano’s derivatives market presents a divided picture on Monday. CoinGlass data<...