Cardano (ADA) is drawing more attention as two key metrics expand in tandem. The daily user count and the futures market both grew in a single day, and traders now view $0.86 as the must-hold line. Sources say these moves often precede a price jump that shifts liquidity and forces large players to adjust.
Cardano’s unique active addresses grew from 29 600 to 30 900 in a single day, and more addresses mean more people send or receive ADA. The total value of open ADA futures rose 12% to $1.43 billion. The funding rate, which longs pay to shorts, moved from 0.0085% to 0.0107%, a sign that most bets are for higher prices.
Chart levels and implications
The chart currently highlights $0.86 as a critical support level that must be held to maintain bullish momentum. Price action has remained within a symmetrical triangle, oscillating between $0.86 and $0.87. This consolidation suggests indecision, but also potential for a breakout. Should buyers manage to push the price above $0.96, the next resistance levels are projected at $1.15 and $1.35, indicating significant upside potential.
On-chain and trading activity show signs of increasing adoption, with more daily users pointing toward wider usage and stronger demand. If this trend continues, order books are likely to deepen, contributing to greater market stability. However, the market remains sensitive to shifts in sentiment, especially in the derivatives space.
One key risk is volatility, particularly when futures positions become overly one-sided. In such scenarios, a sudden change in sentiment can lead to forced liquidations, accelerating downward price movements. At the same time, while increased derivatives activity helps narrow bid-ask spreads, it also introduces variable funding fees that swing depending on trader sentiment.
Additionally, rising activity across exchanges and networks leads to a greater compliance burden. As trading volumes grow, exchanges and custodians are more likely to implement stricter KYC (Know Your Customer) and AML (Anti-Money Laundering) measures, potentially slowing onboarding or limiting participation for some traders.
In summary, a clean daily close above $0.96 would likely attract renewed institutional interest, signaling a potential breakout. Conversely, a drop below the lower boundary of the triangle — particularly below $0.86 — could trigger a reassessment of bullish positions.
