Key Highlights
- ADA maintains position near $0.25 after facing rejection at critical resistance levels this week
- Approximately $545K in long positions liquidated within 24 hours, open interest hovering around $412 million
- Derivatives market shows long-to-short ratio of 0.84, indicating bearish positioning among traders
- Total transactions on Cardano’s mainnet surpassed 120 million, setting a fresh record
- Major holders controlling 10M+ ADA tokens climbed to 424 wallets, marking a four-month peak with 5.2% growth over nine weeks
Cardano (ADA) continues to hover near the $0.25 mark on Friday following a rejection from critical resistance earlier this week. The digital asset remains positioned beneath its 50-day, 100-day, and 200-day Exponential Moving Averages (EMAs), which form a cluster ranging from $0.27 to $0.40.
Leveraged traders felt the brunt of the recent downturn. According to CoinGlass tracking, long position liquidations totaled approximately $545K during the past 24 hours, contributing to overall ADA futures liquidations approaching $626K. Open interest maintains an elevated position at roughly $412 million.
The OI-weighted funding rate has shifted into negative territory, indicating that traders are currently compensating to maintain short positions. This market structure typically constrains upward momentum until organic spot buying emerges.
CoinGlass data reveals ADA’s long-to-short ratio at 0.84. This figure below 1.0 signals that more market participants anticipate continued downside rather than an imminent recovery.
Technical indicators paint a neutral-to-bearish picture. The daily RSI sits in the mid-40s territory, marginally below the neutral 50 threshold. While the MACD line shows slight positive momentum, the Supertrend indicator maintains a red signal. These metrics collectively suggest a consolidating market without clear directional conviction.
Broader market headwinds intensified this week. Bitcoin’s retreat below $71,000 following reports of a U.S.-Iran ceasefire sparked profit-taking across cryptocurrency markets. ADA typically exhibits strong correlation with BTC during such selloffs.
Large Holders Quietly Expand Holdings
Blockchain analytics from Santiment indicate that 424 wallet addresses now control a minimum of 10 million ADA tokens. This represents the highest concentration in four months and reflects a 5.2% expansion during the past nine weeks. Major stakeholders have been accumulating positions throughout the price weakness.
ADA has gained approximately 11% from its February 5 bottom, though it continues to track the broader altcoin market performance through 2026.
Critical support establishes itself at $0.24. A confirmed daily close beneath this threshold would violate the horizontal channel maintained since early February and expose the $0.2328 March 29 low. Further deterioration could target the $0.2205 February bottom.
Blockchain Usage Reaches Unprecedented Levels
While price action remains subdued, Cardano’s network utilization continues expanding. Blockchain analytics platform Cexplorer verified that cumulative transactions on Cardano’s mainnet exceeded 120 million, with the precise count at 120,002,067 at the time of analysis.
For bullish momentum to develop, ADA must recapture the 50-day EMA positioned near $0.268 to alleviate immediate selling pressure. Market analysts have pinpointed $0.299 as the subsequent major resistance barrier if that level is recovered. The $0.24 to $0.25 range continues serving as the critical zone where buyers and sellers are currently engaged.
Get 3 Free Stock Ebooks
Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.
- Top 10 AI Stocks - Leading AI companies
- Top 10 Crypto Stocks - Blockchain leaders
- Top 10 Tech Stocks - Tech giants
