Cardano's ADA token gained more than 33% in trading volume over the last 24 hours, pushing its price to roughly $0.197 as it tests a declining 100-day exponential moving average. Short liquidations have outpaced long liquidations, and derivative positioning on major exchanges points to further upside.
ADA breaks through key resistance
As ADA extends its recovery from June lows, Cardano produced one of its strongest trading sessions in weeks, with daily trading volume climbing more than 33% over the last 24 hours. Bulls now hold their first significant advantage in months as the asset breaks above several technical resistance levels.
After regaining the 26-day and 50-day exponential moving averages, ADA rose to roughly $0.197, where it is now testing the declining 100-day EMA — a level that has capped nearly every recovery attempt since the start of the year. The move carries a significant increase in participation, in contrast to earlier rallies.
Volume surges across major exchanges
Binance handled more than $325 million in futures activity over the last day, remaining the most active venue for the move. Bybit and OKX also saw strong activity, a sign the shift is widespread rather than specific to one exchange.
Open interest increased across several venues, suggesting new capital is entering the market rather than existing positions simply shifting between traders. Long-short account ratios on Binance and OKX remain above 1, though top traders' position ratios stay fairly balanced. Short liquidations have outpaced long liquidations over the last 24 hours, as sellers were driven out during ADA's advance.
Ecosystem momentum builds on-chain
The renewed interest follows a broader stabilization in crypto markets after weeks of volatility, which has let large-cap altcoins outperform Bitcoin in relative terms. Cardano is also benefiting from improving sentiment around ecosystem development, including continued work on Leios scaling, interoperability initiatives such as CANS, and upcoming Project Catalyst funding meant to accelerate application development and on-chain activity.
These developments have helped restore confidence that network expansion could eventually lift blockchain usage. Technically, ADA is approaching a turning point: the RSI has risen toward 70, pointing to strong momentum and the possibility the rally continues in the near term.
Cardano may build its strongest bullish structure since the first quarter of the year if buyers close clearly above the 100-day EMA on sustained high volume. For now, the dramatic rise in volume gives ADA a confirmation signal it lacked during prior rebounds.
Source: U.Today
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