Key Highlights
- ADA maintains position near $0.25 following rejection at critical resistance this week
- Approximately $545K in long positions liquidated during the past 24-hour period, open interest hovers around $412 million
- Derivatives market shows bearish positioning with long-to-short ratio at 0.84
- Total mainnet transactions on Cardano surpass 120 million milestone, setting new record
- Large wallet addresses controlling 10M+ ADA climb to 424, marking 5.2% growth over nine-week period
Cardano (ADA) continues to hover near the $0.25 level on Friday following a rejection from significant resistance earlier this week. The cryptocurrency 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 absorbed significant losses during the recent downturn. According to CoinGlass metrics, approximately $545K worth of long positions were liquidated during the last 24 hours, contributing to total ADA futures liquidations approaching $626K. Open interest maintains an elevated position near $412 million.
The OI-weighted funding rate has recently shifted into negative territory, indicating that market participants are compensating others to maintain short positions. This dynamic typically constrains upward momentum until physical buying pressure strengthens.
CoinGlass reports the long-to-short ratio for ADA currently sits at 0.84. This sub-1.0 reading reveals that more market participants anticipate continued downward movement rather than a reversal.
The daily Relative Strength Index registers in the mid-40s range, positioned just beneath the neutral 50 threshold. While the MACD line shows marginal positivity, the Supertrend indicator displays a red signal. These technical readings collectively suggest a stagnant, sideways market pattern rather than decisive momentum in either direction.
Broader market headwinds intensified pressure this week. Bitcoin declined beneath $71,000 following announcements regarding a U.S.-Iran ceasefire agreement, sparking profit-taking throughout major digital assets. ADA typically demonstrates correlation with BTC during such downside movements.
Major Holders Quietly Expand Positions
Blockchain analytics from Santiment reveal that 424 wallet addresses currently maintain holdings of at least 10 million ADA. This figure represents a four-month peak and reflects a 5.2% expansion throughout the past nine weeks. These substantial stakeholders have been building positions despite ongoing price weakness.
ADA has appreciated approximately 11% from its February 5 bottom, though it has remained aligned with the broader altcoin market performance throughout 2026.
Critical support is established at $0.24. A daily closing price beneath this threshold would violate a horizontal trading channel maintained since early February and bring the March 29 low of $0.2328 into consideration. Further weakness would target the February low at $0.2205.
Blockchain Utilization Reaches New Milestone
While price action remains subdued, Cardano’s network utilization continues expanding. Data from blockchain explorer Cexplorer validates that cumulative transactions on the Cardano mainnet have exceeded 120 million, with the precise count reaching 120,002,067 at the time of publication.
For upward progression, ADA must recover the 50-day EMA positioned near $0.268 to alleviate immediate selling pressure. Market analysts have designated $0.299 as the subsequent major resistance threshold should this recovery occur. The $0.24 to $0.25 range continues serving as the critical zone where buyers and sellers currently contest control.
