Cardano (ADA) price trades higher above $0.82 at the time of writing on Monday after gaining nearly 11% in the previous week. Derivatives data suggest further gains as ADA’s Open Interest (OI) is rising alongside positive funding rates, suggesting bullish sentiment among traders. The technical outlook suggests rally continuation as momentum indicators show bullish bias.
Bitcoin price found support around its previous all-time high of $111,980 on August 3 and rallied 6% until Sunday. At the time of writing on Monday, it trades above its psychological level at $120,000. If BTC continues its upward trend, it could extend the rally toward its record high of $123,218 on July 14.
Ethena edges higher by 6% at press time on Monday, reaching the highest price in six months. The bullish run continues for the sixth consecutive day, aiming for the $1.0000 psychological mark (annual high). Adding credence to bullish potential, the rising 100-day and 200-day Exponential Moving Averages (EMAs) hint at a potential Golden Cross, which would signal a buy signal as the recovery run outgrows the prevailing bearish influence.
