Cardano (ADA) Holders Watch Key Support Levels as Open Interest in Futures Positions Climbs to 1.09 Billion ADA

NAIROBI (CoinChapter.com)—Cardano (ADA) traders are closely watching key support levels as open interest in futures positions climbs to 1.09 billion ADA.

NAIROBI (CoinChapter.com) – Traders are keeping a close eye on Cardano (ADA) as it continues to hover around key support levels. The cryptocurrency is trading at $0.804, down 0.35% over the past 24 hours.

As the 50-day EMA stands at $0.8072 and the 200-day EMA at $0.7376, ADA is still in a crucial technical stage. Moreover, the Relative Strength Index (RSI) on the 14-day chart has risen to 50.48, up from 50.39 on Wednesday.

Crypto trader Crypto Rand highlighted the $0.65 support level as a key defensive zone, stating, “$ADA continues defending the 65 cents range. Really important support.”

A breakdown below this level could accelerate selling pressure, while a bounce might trigger a short-term recovery.

The Relative Strength Index (RSI) sits at 50.39, suggesting neutral momentum. However, a dip below 50 could reinforce bearish sentiment.

Can ADA Sustain Support Above $0.80?

Open interest in futures positions on Cardano (ADA) has increased to 1.09 billion ADA, according to the latest data from Coinglass.

At press time, the majority of long positions are concentrated at $0.804 and $0.84, with a combined value of $9.11 million, whereas short positions total $5.45 million. This imbalance favors sellers, increasing the probability of further downside unless buying pressure strengthens.

However, higher open interest suggests rising liquidity, potentially amplifying volatility in ADA’s next move.

Despite short-term bearish sentiment, ADA has historically consolidated before major price surges. Analyst Ali Martinez highlighted that ADA’s long-term structure remains valid as long as the price holds above $0.80.

Source: Ali Martinez, X

“ADA has a history of long consolidation periods before strong rallies. Breaking above $1.20 could shift the trend,” Martinez stated. The $1.20 level serves as a key resistance zone, aligning with prior market cycles where ADA struggled before making upward moves.

A sustained move above $0.85–$0.90 could pave the way for a push toward $1.20. However, failure to reclaim these levels may leave ADA vulnerable to continued downside pressure.

Derivatives Data Signals Caution Amid Bearish Bias

The cryptocurrency market is showing signs of bearishness as Bitcoin (BTC) and altcoins experienced mixed price movements despite a slight increase in liquidity.

Open interest increased by 2.16% to $771.55 million, while total volume dropped 10.37% to $1.62 billion. Options volume, however, plunged 92.94% to $6.59K, suggesting a decline in speculative bets.

Source: Coinglass

If the asset holds above $0.80 and attracts enough buying pressure, a breakout towards $1.20 could materialize. But if it fails to do so, we might see Cardano retest lower supports.