Cardano is gaining bullish momentum as buyers return to the crypto market, suggesting a potential run-up is on the horizon.
Cardano's open interest has increased by 25% in a 24-hour period, with the total rising from $902.27 million to $958.05 million, indicating growing market attention.
The open interest reflects investors' bets on ADA derivatives, with rising interest potentially signaling a bearish expectation for a price crash.
ADA has broken out of a falling wedge pattern and is approaching targets of $0.9508, $1.0295, and $1.1316 as the altcoin market shows positive momentum.