2026-5-6 13:55 |
The cryptocurrency market is having a bullish start to the week as Bitcoin races above the $81,000 level.
Ether, XRP, Solana, and Dogecoin are all in the green and could record higher gains in the near term.
Cardano’s ADA lost its place in the top 10 a few weeks ago but is slowly staging a recovery.
The coin is up 2.5% in the last 24 hours and is now trading above $0.2500, extending gains toward a key resistance trendline after an indecisive close on Monday.
ADA’s rally comes as it is gaining retail strength, anticipating further upside on a potential breakout.
Cardano would need to close its daily candle above the 50-day Exponential Moving Average (EMA) at $0.2555 to extend its recovery.
Retail demand could push ADA’s price higherCardano is currently outperforming the broader market as Bitcoin (BTC) is holding above $80,000 on Tuesday, easing downside pressure on altcoins.
The derivatives data indicate that retail traders are increasing their positions in Cardano, anticipating an upward movement in the near term.
Data obtained from CoinGlass reveals that ADA futures Open Interest (OI) has increased by 5% over the last 24 hours to $559.81 million, reflecting a buildup in positions.
In addition to that, Cardano’s OI-weighted funding rate stands at 0.0035%, up from 0.0011% on Monday, reflecting a bullish incline in the positional buildup as traders are willing to hold long positions at a premium.
With limited institutional interest at the moment, retail traders could push ADA’s price towards a key psychological level over the next few hours or days.
Will Cardano kick off a breakout rally to $0.30?The ADA/USD 4-hour chart is bearish and efficient despite Cardano adding 2.5% to its value since Monday.
Currently, Cardano has topped the 50-day EMA at $0.2555 but remains well below the 200-day EMA at $0.3658.
The proximity of the descending resistance trendline break level at $0.2554 to the 50-day EMA means that sellers continue to pile on pressure, limiting upside attempts.
However, a daily candle close above the 50-day EMA could confirm the upside breakout of the symmetrical triangle pattern, allowing the bulls to target the April 17 high at $0.2680, followed by the $0.3000 round figure.
The momentum indicators suggest growing bullish momentum.
The Relative Strength Index (RSI) at 65 on the 4-hour chart nudges towards the overbought region, reflecting a growing upside bias.
Meanwhile, the Moving Average Convergence Divergence (MACD) remains marginally positive above its signal line, reaffirming modest underlying buying interest.
However, if the daily candle fails to close above the 50-day EMA, the bears could regain control of the market and likely retest the $0.2398 support level.
A daily break below this level would expose Cardano to a deeper corrective phase within the broader bearish structure.
With retail interest still growing, ADA could rally towards the 4-hour swing high at $0.2700 in the near term.
The post Cardano eyes $0.2700 amid retail interest spike appeared first on Invezz
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