Cardano‘s ADA $0.80 has been on a roll lately, closing at $0.8101 with a strong 5.98% gain on Thursday, July 17th. The price surged past the critical 200-day moving average ($0.7476), forming its first daily close above that level since March. Volume jumped to $290.88 million, confirming renewed spot demand.
The rally was fueled in part by increased derivatives activity. According to market data, Cardano’s Open Interest spiked 12.06% in the past 24 hours, climbing to $1.45 billion. This sharp increase in leveraged exposure, without an equivalent surge in liquidations, suggests that bulls are confidently increasing positions rather than chasing liquidations or reacting to volatility.
Cardano Derivatives Market Analysis | Source: Coinglass
Meanwhile, trade volume soared 92.42% to $4.53 billion, as investors rotated capital from low-volatility altcoins into Cardano. Across major exchanges, new positions leaned bullish with Binance top traders accounts posting a 2.7608 long/short ratio on the day. This concentration of long positions signals growing confidence in a sustained breakout.
Will ADA Hold Above $0.76? Or Is It Just a Flash in the Pan? 🤔
ADA is now testing its highest levels since March 2025, having decisively flipped the 200-day SMA into support. If bulls hold the line above $0.76, the next resistance lies at $0.9053. Breaching that level would validate a macro bullish reversal, potentially propelling ADA toward $1.00. But let’s not get ahead of ourselves, shall we? 😉
Cardano price forecast
Conversely, failure to maintain momentum could trigger a pullback toward $0.7476 or even $0.68. However, the consolidation above the golden cross region (50/20-day MA) and strong market interest surrounding Bitcoin‘s BTC $119 136 all time high milestones this week suggest this rally may not be over yet.
Maintaining support above $0.76 could attract fresh capital as institutional and retail investors position ahead of the next macro leg up. But remember, folks, past performance is not indicative of future results! 📈
Best Wallet Presale Gains Traction as Cardano Rally Heats Up
As Cardano surges past key resistance levels, Best Wallet, a rising player in the crypto wallet space, is drawing investor interest with its presale.
Best Wallet Presale
The $BEST token is now in presale, offering early access to staking rewards, transaction fee discounts, and governance rights. With over $13.9 million raised, investors can still join before the next price increase. But don’t forget, there’s no such thing as a sure bet in the wild world of crypto! 💸
Visit the official Best Wallet site to participate in the $BEST token presale and secure premium perks ahead of launch. And remember, always do your own research before investing in any crypto project! 🔍
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2025-07-18 04:14