Cardano held above $0.20 after gaining 7% over 24 hours to reach $0.207, with RealFi's October 1 mainnet launch and a fresh technical buy signal both supporting the move. Traders are now watching whether ADA can clear $0.22 to open the way toward $0.25.
Cardano price held above $0.20 after gaining 7% over 24 hours, reaching $0.207 during a broader market recovery. Market capitalization rose 1.64% to $2.62 trillion, while Bitcoin topped $77,900 and Ether reached $2,400. XRP also traded 4% higher, lifting risk appetite across major digital assets.
RealFi mainnet launch strengthens ADA outlook
RealFi is scheduled to launch on Cardano's mainnet on October 1, following its public testnet. The platform, provided by Input Output Global, will launch USDr, a stablecoin backed by real-world assets and productive capital. Charles Hoskinson anticipates that RealFi will grow the total value locked in Cardano, with more transactions to be conducted within the network.
He added that the product would help Cardano's push to increase decentralized finance and stablecoin activity. A successful launch would reaffirm ADA's momentum if users go on to provide liquidity and use USDr.
Analyst flags a new buy signal
Crypto analyst Ali Charts said Cardano's daily chart flashed a fresh TD Sequential buy signal. The same indicator has previously preceded ADA rallies of 44.5%, 11.5% and 50% since past market bottoms. Even so, past performance cannot confirm that a similar rally will follow this time, and traders are watching price action to confirm a sustained recovery.
Open interest and momentum build
Cardano derivatives activity also picked up: trading volume rose 1.49% to $453.30 million, while open interest increased 1.44% to $452.29 million, pointing to greater market participation. The gains are closely matched, suggesting new positions rather than speculative swings.
ADA surged 7% to $0.2073 on the four-hour timeframe, extending its recovery from support at $0.20. The RSI rose to 63.95, showing increased momentum without yet reaching overbought territory, while Chaikin Money Flow stood at 0.24, indicating more capital flowing into the market.
A break above $0.22 would open the way to a $0.25 target, and further strength could reveal $0.28, though that longer target remains unconfirmed. Weakening momentum could instead push Cardano back toward support at $0.20, and any close below that level could expose the $0.19 support.
Source: CoinGape
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