Cardano Targets $1 as Open Interest Hits $1.77B and Bulls Hold $0.95
ADA is holding strong, extending the bullish structure as the broader market cools. ADA is consolidating at $0.95
Quick overview
- ADA is consolidating at $0.95 after a recent high of $1.0180, maintaining a bullish structure amid a cooling broader market.
- Open Interest in ADA derivatives has reached a record $1.77 billion, indicating increased trader confidence in the ongoing rally.
- Technical indicators suggest further upward momentum, with immediate resistance at $0.9577 and key support levels identified.
- Swing traders have options for aggressive or conservative entries, with bullish sentiment as long as ADA remains above $0.8650.
ADA is holding strong, extending the bullish structure as the broader market cools. ADA is consolidating at $0.95 after retracing from the recent $1.0180 high, defending key support zones. As of Friday ADA is up 1% at $0.9500, while derivatives are going crazy—Open Interest hit a record $1.77 billion, up $200 million in 24 hours.
Longs now account for 49.69% of active ADA contracts, up from 48.07% midweek, so traders are getting more convinced the rally isn’t over.
Cardano Technicals Still Bullish
On the 2-hour chart ADA is making higher lows above the rising trendline from the August 11 pivot. Immediate resistance is at $0.9577 (23.6% Fib), with supports at $0.9211 (38.2%), $0.8916 (50%), and $0.8620 (61.8%).
Market speculation is fun but let's keep it real – ETF approval is just one piece of the puzzle. Cardano's real value comes from its tech evolution and growing ecosystem. $1.50 isn't a ceiling, it's a milestone on a longer journey. Focus on building, not just price targets.
— T (@agentic_t) August 15, 2025
Momentum indicators support further up:
- RSI: 61, still got room to run before overbought.
- MACD: Lines are converging after the bearish crossover, looks like momentum is picking up.
A break above $0.9577 could take us to $1.0180 and $1.0768, while a close below $0.8916 would weaken the trend.
Cardano Trade Setup and Levels
Swing traders may consider two options:
- Aggressive Entry: Buy on a daily close above $0.9580, target $1.0180 and $1.0768. Stop below $0.9210.
- Conservative Entry: Wait for a pullback to the $0.9211-$0.8916 zone with bullish reversal patterns before entering.
As long as price is above $0.8650—the 50-SMA and deeper Fib support—Cardano is still bullish.
- Check out our free forex signals
- Follow the top economic events on FX Leaders economic calendar
- Trade better, discover more Forex Trading Strategies
- Open a FREE Trading Account
Save