Cardano Skyrockets Over 40% – Funding Rate Suggests Further Upside

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Cardano Skyrockets Over 40% – Funding Rate Suggests Further Upside - NewsBTC

Quick Summary:

This breakout is sparking fresh optimism among investors who have been waiting for ADA to demonstrate sustained strength. According to recent data from Coinglass, ADA’s funding rate has risen to levels not seen since June, indicating strong demand and suggesting that this rally could only be the beginning of a larger trend.

ADA Price Action: Key Levels To Watch Cardano (ADA) is currently trading at $0.43, following a strong surge that took it above the 200-day moving average (MA) at $0.39—a crucial level indicating long-term strength and trend reversal.

While ADA will need to establish new support at its breakout levels to confirm this trend shift, the recent uptrend signals renewed confidence in Cardano’s long-term potential.