Cardano (ADA) faces important technical levels that are determining its future market movement. Current price action and trader activity are shaping conditions for a potential rally.
Key Breakout Zone at $0.88
Currently, ADA is trading at $0.8369 with a 24-hour trading volume of $1.39 billion. The token has increased by 1% in the last day but remains down 4% over the past week. Technical charts indicate that $0.88 is a critical breakout level that could lead to a move toward $1.20. The ADA/USDT chart shows price consolidating within an ascending channel.
Short-Side Pressure and Liquidations
Coinglass data shows an imbalance in liquidations: in the past 24 hours, short liquidations reached $526,570 compared to only $2,060 from longs. This chart reflects that bearish positions have absorbed the majority of recent losses, indicating stronger pressure on traders betting against ADA. With the price holding above $0.82, this may reinforce near-term upward momentum.
Derivatives Market Activity
Alongside liquidations, derivatives data indicates active positioning. Trading volume rose by 57% to $2.65 billion, reflecting renewed interest. However, options activity declined by 93% to $6,590, suggesting limited engagement in the options market. The futures-driven activity indicates that traders are focusing more on directional bets.
Cardano is at a critical juncture: holding support around $0.82–$0.84 keeps the bullish scenario intact, but confirmation depends on breaking through $0.88.
