Cardano Price Surges 15%, Derivatives Metrics Show Mixed Signals

Cardano's price has surged over 15% in the past week, trading at $0.222 on Monday. However, derivatives metrics show mixed signals, with a long-to-short ratio of 0.94 indicating bearish sentiment.

The funding rates have flipped positive, reading 0.0097% on Monday, suggesting a strengthening outlook. On-chain data also shows mild bullish bias among traders.

Momentum indicators suggest further gains as the Relative Strength Index (RSI) hovers near 61 and the Moving Average Convergence Divergence (MACD) line has turned marginally positive.