Cardano’s Futures Volume Soars: An Indication of Bullish Momentum?

Cardano (ADA) has captured attention recently as its futures market volume experienced a significant surge, reaching $6.96 billion on August 14th. This marks the highest trading activity level witnessed in the past five months and hints at a potential short-term price breakout. This rise coincides with ADA’s impressive 12% weekly increase, trading around $0.9190 before hitting highs of $0.98 on August 17th. The current focus lies on the critical resistance zone between $1.00 and $1.25 as traders await further price action.