Key Highlights
- ADA price consolidates near $0.25 following rejection at resistance earlier this week
- Approximately $545K worth of long positions liquidated within 24 hours, open interest hovers around $412 million
- Derivatives traders show bearish bias with long-to-short ratio at 0.84
- Total Cardano mainnet transactions surpass 120 million milestone, setting new record
- Large wallet holders with 10M+ ADA climb to 424 addresses, marking a 5.2% rise over nine weeks
Cardano (ADA) continues to hover near the $0.25 mark on Friday following a rejection from higher resistance levels earlier this week. The digital asset remains pressured below 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 faced significant pain during the recent downturn. According to CoinGlass metrics, approximately $545K in long positions were liquidated during the past 24-hour period, contributing to total ADA futures liquidations approaching $626K. Meanwhile, open interest in ADA futures contracts maintains an elevated position near $412 million.
The OI-weighted funding rate has shifted into negative territory, indicating that short position holders are now paying funding fees. This market structure typically constrains bullish momentum until organic spot buying demand returns.
CoinGlass data reveals that ADA’s long-to-short ratio currently registers at 0.84. When this metric falls below 1.0, it signals that more market participants are positioned for downside continuation rather than upward recovery.
Technical indicators paint a picture of consolidation rather than conviction. The daily Relative Strength Index (RSI) lingers in the mid-40s territory, positioned just beneath the neutral 50 threshold. While the MACD line shows marginally positive readings, the Supertrend indicator continues flashing red. This combination suggests a sideways, range-bound environment without clear directional momentum.
Broader market dynamics added downward pressure this week. Bitcoin’s decline below $71,000 following reports of a U.S.-Iran ceasefire agreement sparked profit-taking across cryptocurrency markets. ADA typically exhibits strong correlation with BTC during such selloffs.
Large Holders Continue Accumulating
Blockchain analytics from Santiment reveal that 424 wallet addresses currently control at least 10 million ADA tokens. This figure represents a four-month peak and reflects a 5.2% expansion over the past nine weeks. These substantial holders have been steadily building positions throughout the recent price weakness.
While ADA’s price has gained approximately 11% from its February 5 bottom, it has largely tracked the broader altcoin market trajectory throughout 2026.
Critical support is located at the $0.24 threshold. A confirmed daily close beneath this level would violate the horizontal range structure that has contained price action since early February, potentially exposing the $0.2328 low from March 29. Further deterioration could target the $0.2205 February low as the subsequent key support zone.
Blockchain Usage Reaches All-Time High
Despite lackluster price performance, Cardano’s network utilization continues expanding. Blockchain data platform Cexplorer has verified that cumulative transactions on Cardano’s mainnet have exceeded 120 million, with the precise count at 120,002,067 at the time of this report.
For bullish momentum to build, ADA must recapture the 50-day EMA positioned near $0.268, which would help alleviate immediate selling pressure. Market analysts have pinpointed $0.299 as the subsequent major resistance barrier should this recovery materialize. For now, the $0.24 to $0.25 range represents the crucial zone where buyers and sellers are battling for control.
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