Bitcoin News Today: Cardano Bulls Gain Strength as Stablecoin Surge Fuels $1.02 Push

Cardano (ADA) has shown signs of renewed bullish momentum, with the price trading above $0.84 on Monday after rebounding from a key support level the previous week. On-chain and derivatives data suggest growing confidence among traders, as the OI-Weighted Funding Rate for ADA turned positive on September 2 and remained above 0.0079% as of Monday, indicating that long positions were gaining strength relative to short positions. This shift in funding rates reflects a broader sentiment among traders expecting further price appreciation. Coinglass data underscores this trend, highlighting a structural shift in market positioning toward the upside as more traders are betting on ADA’s potential for a sustained rally [1].

The bullish narrative is further supported by rising stablecoin activity on the Cardano network. According to DefiLlama, ADA-based stablecoin market capitalization hit a record high of $40.37 million on Sunday. This increase in stablecoin usage is a positive indicator for network health, as it correlates with higher transaction volumes, user engagement, and ecosystem development. While still modest compared to larger blockchains like Ethereum and Solana, the growth in stablecoin activity suggests Cardano is gaining traction among users and developers, potentially reinforcing the foundation for a more robust price appreciation [1].

Technical indicators on the 4-hour chart confirm the bullish outlook. ADA broke out of a falling wedge pattern that had been forming since mid-August, a classic chart pattern often associated with upward momentum. The RSI currently stands at 58, slightly above the neutral 50 level, while the MACD has already formed a bullish crossover, adding to the positive signals. If this trend continues, ADA could reach the 61.8% Fibonacci retracement level at $0.92 in the near term [1].

On a daily chart, the price retested and held above the 100-day Exponential Moving Average (EMA) at $0.77 on September 1, rebounding by over 4% to trade near $0.83. A sustained close above $0.84 would likely set the stage for a test of the August 14 high at $1.02. While the RSI on the daily chart remains around 50, indicating market indecision, the MACD’s declining red histogram below the neutral level suggests fading bearish momentum, which bodes well for a continuation of the upward trend [1].

Market participants are closely watching the broader crypto environment, where Cardano’s performance has outpaced Bitcoin and other major cryptocurrencies in recent weeks. Despite Bitcoin’s consolidation near $110,000, altcoins like Solana and Cardano have exhibited stronger price action. ADA’s 4.7% gain over the past week positions it favorably in the current market cycle, although its 30-day performance remains modest compared to the broader altcoin rally. Analysts suggest that if ADA continues to maintain its position above key support levels and stablecoin usage expands further, it could attract more institutional and retail attention, potentially accelerating its path toward $1.02 [4].

Source: [1] Cardano Price-Forecast: Bulls Reclaim Control with ADA Eyeing Higher Levels (https://www.fxstreet.com/cryptocurrencies/news/cardano-price-forecast-bulls-reclaim-control-with-ada-eyeing-higher-levels-202509080523) [2] ADA Stablecoin Growth Hits Record High: Could Cardano Rally to $0.92? (https://cryptorank.io/news/feed/4bdf2-ada-stablecoin-growth-hits-record-high-could-cardano-rally-to-0-92) [3] Today Solana and Cardano Outperform Bitcoin (https://en.cryptonomist.ch/2025/09/08/today-solana-and-cardano-outperform-bitcoin/) [4] Cardano (ADA) Price in Bitcoin (https://www.coingecko.com/en/coins/cardano/btc)