The Cardano (ADA) price remains resilient and demonstrates an intraday gain of 8.5% despite a bearish outlook in the crypto market. Cardano futures open interest has declined by 60% over the past three weeks, signaling a reduction in leveraged positions and potential market cooling. However, the ADA OI-weighted funding rate has rebounded to positive territory, suggesting renewed buying pressure and a potential price recovery. The Cardano price has recently reversed from a support level of $0.65, leading to a 14.75% increase and reaching a trading value of $0.76 and a market cap of $26.1 billion. The daily chart shows a falling channel pattern, and if history repeats, Cardano could surpass the $0.82 resistance and surge 28% to reach the $0.97 barrier. A bullish breakout from the channel pattern is crucial for buyers to regain the $1 floor.



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