1,200,000,000 Cardano Hit in Open Interest as Price Eyes Rebound to $1

Cardano (ADA) Surges 6% as Open Interest Spikes by 26.42%

In a remarkable turn of events, Cardano (ADA) has rebounded by over 6% from its support level after a prolonged period of price correction. This bullish rally has triggered a significant surge in open interest, signaling renewed investor confidence in ADA's future potential.

Market Momentum Builds

Data from CoinGlass reveals a 26.42% spike in Cardano's open interest, with traders committing 1.2 billion ADA (valued at $958.11 million) in futures contracts. This strong market activity suggests growing anticipation of further price appreciation, potentially toward the psychologically important $1 mark—a level ADA hasn't reached since early March 2025 despite multiple attempts.

Key Resistance Levels to Watch

With broader market conditions favoring a rally, Cardano faces its next major test at the $0.95 resistance level. Breaking through this ceiling could pave the way for a push toward $1. At press time, ADA trades at $0.8002, up 5.78% in the last 24 hours, with trading volume surging 69.02% to $1.29 billion—indicating strong momentum.

Exchange Activity Highlights Confidence

The most significant bullish sentiment appears concentrated on Bitget and Binance exchanges. Bitget shows 264.30 million ADA in open interest ($212.02 million), while Binance holds 247.54 million ADA ($198.65 million). This concentrated activity suggests traders are positioning for potential further gains.

Notably, Cardano whales reportedly acquired approximately 80 million ADA just before the current price surge—a move that now appears prescient as the cryptocurrency experiences its bullish breakout.

Technical Indicators Suggest Continued Volatility

As ADA stabilizes around $0.80, technical indicators like the Bollinger Bands hint at possible further price spikes. Market participants remain watchful to see whether Cardano can maintain its upward trajectory in the coming trading sessions.