- Cardano $ADA futures volume surged to $6.96 billion, the highest in five months, supported by a 26% rise in open interest.
- ADA trades near $0.91 after a 171% yearly gain, with traders closely watching the critical resistance levels at $1.01 and $1.15.
- Sentiment remains bullish as 70% of Binance traders hold long positions, while TD Sequential signals potential upward movement supporting rally continuation.
Cardano $ADA futures volume has surged to $6.96 billion, the highest in five months, raising questions about whether this momentum could trigger the next major rally.
Surge in Futures Activity and Market Sentiment
Crypto analyst Ali reported that Cardano $ADA futures reached $6.96 billion, signaling increased trader participation. The level marks the strongest futures activity for the token in nearly half a year.
Open Interest in ADA future surged by 26% to $1.82 billion, according to Coinglass data. This increase indicates a rise in leveraged exposure by traders which suggests liquidity is being added to the market.
Sentiment also appears firmly bullish. Market Prophit indicated that both crowd sentiment and proprietary models point to optimism. Nearly 70% of Binance traders with active ADA positions are currently betting on continued upward movement.
Price Levels Setting the Stage for the Rally
ADA is trading around $0.91, showing a 171% increase over the past year, as observed by market tracker Toknex. The asset continues to defend the $0.84 support range, viewed as essential for maintaining bullish momentum.
Toknex explained that the $1.01 level remains the next hurdle. A successful breakout could pave the way for a move toward $1.15, representing a further 25% rise. This price area is also close to ADA’s recent peak at $1.23.
The $1.15 target is attracting interest because traders see it as a high-liquidity zone. Large market participants are expected to react strongly around this level, making it a key test for ADA’s rally prospects.
Potential Risks Ahead
Ali highlighted that Cardano has printed a buy signal on the hourly chart using the TD Sequential indicator. This development suggests short-term strength could support the current rally.
However, Toknex warned that momentum could falter if futures volume begins to slow. In addition, whales continue selling into strength, which could cap upside progress if demand does not keep pace.
If $1.01 fails to break, ADA risks revisiting the $0.84 support area. Traders are therefore balancing the optimism around the strong futures surge with caution over market dynamics that may disrupt the trend.
