Cardano News Today: Bullish ADA Momentum Faces Critical Resistance Test

The altcoin market is showing early signs of a potential rebound, with Cardano (ADA) emerging as a focal point for investors seeking opportunities in November. ADA has rebounded nearly 7% this week, trading around $0.43, supported by on-chain activity and derivatives data indicating a bullish bias. Large whale orders and buy-side dominance have increased, while the OI-Weighted Funding Rate has turned positive, signaling stronger demand from long-position holders. Historically, such shifts in funding rates have preceded sharp rallies in ADA's price, suggesting a possible continuation of the recovery.

Technical indicators further reinforce the optimism. ADA recently retested the lower boundary of a falling wedge pattern, finding support and rebounding 9% over four days. A breakout above the $0.49 resistance level could target the 50-day EMA at $0.56. The RSI, currently at 34, has moved out of oversold territory, and the MACD bullish crossover on Thursday adds momentum to the short-term outlook. However, risks remain, as a breakdown below $0.39 could reignite downward pressure.

While the provided content does not include specific analysis for Polkadot (DOT) or Litecoin (LTC), ADA's recovery aligns with broader market sentiment around undervalued assets. Investors are advised to monitor on-chain metrics and derivatives activity for confirmation of sustained momentum before accumulating positions.