Cardano (ADA) Eyes 20% Price Surge – Funding Rate Suggests Increasing Demand

Quick Summary:

After last week’s interest rate cut, optimism has surged among analysts and investors, with many anticipating strong upward momentum for the altcoin.  Related Reading: Solana (SOL) Consolidates in Symmetrical Triangle – Analyst Reveals $160 Target On Breakout This positive sentiment is reflected in spot trading and the futures market, where key data from Coinglass reveals a bullish inclination.

Doing so would signal a confirmation of a daily uptrend and could pave the way for a sustained rally to higher price levels.Related Reading: XRP $0.60 Triangle Breakout Could Ignite Parabolic Rally – Key Levels To Watch However, a deeper correction could follow if ADA fails to break through current resistance and set a new high.

With market sentiment shifting and technical indicators aligning, Cardano appears poised for a significant move.  Cardano On-Chain Metrics Suggest A Breakout  Cardano has surged over 15% since last week’s interest rate cut announcement, fueling speculation of a potential altseason in the crypto market this year.

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Author / Journalist: Sebastian Villafuerte

Category: Crypto

Markets: United Kingdom

Topics: Cardano (ADA) Price Analysis Cardano ADA ADA Market ADA Bull Run Cardano (ADA) Technical Analysis ADAUSDT Cardano Cardano (ADA) Price Cardano news

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-27 @ 00:00:47 (13 hours ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 605 words

Reading Time: 4 minutes read

Sentences: 65 lines

Sentence Length: 10 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © NewsBTC

News ID: 22744156

View Article Analysis

About NewsBTC

Main Topics: Crypto

Official Website: newsbtc.com

Update Frequency: 8 posts per day

Year Established: 2013

Headquarters: United Kingdom

News Last Updated: 9 hours ago

Coverage Areas: United Kingdom

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #102

Publisher Details

Frequently Asked Questions