- Cardano (ADA) is showing signs of a bullish reversal after breaking a local trendline, supported by rising open interest and renewed institutional engagement.
- A recent meeting between the Cardano Foundation and $1.6T asset manager Franklin Templeton has fueled optimism about ADA’s potential breakout above $0.72.
Cardano (ADA) is heating up the charts again, breaking through a key local trendline and setting sights on the critical $0.72 resistance zone. With institutional chatter intensifying—highlighted by a recent high-profile meeting with Franklin Templeton—ADA could be gearing up for a strong bullish reversal.
After a rough 10% dip last week, Cardano found solid footing above the $0.648 support level. On the 4-hour chart, ADA has since gained nearly 2%, pushing past a downtrend resistance and now testing the 50-period EMA at $0.70. If bulls manage to clear the $0.72 barrier—home to the 100- and 200-period EMAs—a surge toward the $0.837 resistance could be on the horizon.
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Technical indicators point to strengthening momentum. The RSI has moved above the midpoint, suggesting renewed buying pressure. However, bears are still lurking, with the long-to-short ratio slightly favoring shorts, and over $800,000 in long positions recently liquidated.
Yet the real excitement comes off the charts.
Frederik Gregaard, CEO of the Cardano Foundation, recently met with Jenny Johnson, the CEO of $1.6 trillion asset management giant Franklin Templeton. The firms reportedly discussed digital assets, public blockchain infrastructure, and the fact that Franklin Templeton is already running Cardano nodes. This has ignited optimism within the Cardano community and hints at growing institutional alignment with ADA’s ecosystem.
Adding fuel to the fire, Gregaard and Cardano’s Chief Legal Officer are heading to Washington, D.C. next week to work alongside U.S. policymakers on creating blockchain risk frameworks—a move that could enhance Cardano’s legitimacy as a go-to network for enterprise-grade blockchain projects.
Meanwhile, derivative metrics show growing confidence: open interest has surged by 2.5% to $845.67 million, and the funding rate has flipped positive again, now sitting at 0.0084%.
If Cardano can ride this wave of momentum—both technical and institutional—ADA may just reclaim its bullish narrative and aim for a breakout beyond $0.837.