Cardano reclaims $0.250 as derivatives sentiment improves
Photo: CoinJournal
Key takeaways ADA’s long-to-short ratio edged above one to 1.01, indicating a slight tilt toward bullish positioning. Funding turned positive and reached 0.0061%, with longs paying shorts. ADA holds above its major daily EMAs, with immediate support at $0.245 and resistance at $0.299. Cardano recovered above a key support zone on Monday, trading near $0.250 as derivatives positioning improved following last week’s 2.85% correction. ADA remains above its major daily exponential moving averages, supporting a constructive near-term outlook. However, mixed momentum and signs of sell-side pressure suggest the recovery still faces obstacles.
Source: CoinJournal
