Cardano (ADA) Price Surges as $1.26 Billion Open Interest Signals Bullish Move

Cardano (ADA) is making waves with over $1.26 billion locked in open interest, pushing the price up 2.17% to $0.7516 as traders eye the $1 target.

ADA Price Breaks Key Resistance at $0.74

Cardano had a solid day yesterday, hitting an intraday high of $0.7542 and finally breaking through that stubborn $0.74 resistance level. This isn't just another small move – it's actually a pretty big deal for ADA holders who've been waiting for this breakout.

Right now, ADA is trading at $0.7516, which represents a nice 2.17% bump in the last 24 hours. The big question everyone's asking is whether it can hold above $0.74 and maybe even push toward $0.76. That's where things get interesting.

ADA Open Interest Hits $1.26 Billion

Here's where it gets really interesting. According to CoinGlass data, there's about 1.68 billion ADA tokens locked up in futures positions right now. That's roughly $1.26 billion worth of ADA that traders are betting on – and most of them seem pretty bullish.

This massive open interest surge usually means traders are expecting some serious price action. Combined with Bitcoin's recent all-time high of $123,091, there's definitely some positive vibes flowing through the crypto market right now. Many folks think ADA could ride this wave all the way back to $1 – a level it hasn't seen since March 2025.

The timing makes sense too. When Bitcoin pumps, altcoins often follow, and ADA seems to be catching some of that momentum.

Trading Volume Drops Despite Bullish Setup

But here's the catch – and there's always a catch, right? While the price is going up and open interest is through the roof, trading volume actually dropped by 15.8% to $1.24 billion. That's kind of weird and suggests people are still being pretty cautious.

This volume drop is a bit concerning because it means the current rally might not have the strong support it needs to keep going. Traders seem to be sitting on the sidelines, probably waiting to see if ADA can actually stay above $0.74 before they jump in with both feet.

If more traders start actively buying and selling ADA, it could give the price the push it needs to hit that $1 target. But if the volume stays low and the price gets rejected at $0.76, we might see some pullback.

The recent Emurgo Cardano Card launch has definitely helped boost network activity, with more active addresses popping up. That's good news for the fundamentals, even if the trading action is a bit mixed right now.

Bottom line: ADA is showing some promising signs, but it needs to prove it can hold these levels before making the next move up.