ADA Holds Critical $0.75 Support After Open Interest Drops 9.48% – Rally or Crash Ahead?
Cardano dropped 10.23% intraday to $0.82, becoming the second-worst performer among top cryptocurrencies as traders took profits following ADA’s recent climb to four-month highs at $0.93.
The token’s open interest dropped by 9.48% to $1.53 billion, closely aligned with the intraday spot price correction. A steep 92.94% drop in options volume further confirms that the majority of the movement was driven by closed long positions, not fresh shorts.
ADA Price Prediction: Why ADA Must Hold $0.75 Support
From a technical standpoint, the $0.75 region represents critical support for bulls. It sits near the 20-day Keltner Channel baseline and coincides with a previously broken resistance level that ADA reclaimed earlier this month.
Losing this area would not only invalidate the recent breakout pattern but also risk triggering a cascade of long liquidations, as $10.2 million in longs were wiped in the past 12 hours.
Cardano (ADA) Price Prediction Chart
Traders who entered during ADA’s July breakout may now await a retest of key support levels, primarily near $0.75, as marked by the 20-day Keltner Channel midpoint. Maintaining this level could trigger renewed bullish interest, especially as the token remains above its 50-day moving average and the daily RSI cools near 63 after briefly entering overbought territory.
If ADA holds above $0.75 and volume stabilizes, bulls may regroup for a fresh attempt toward the $1.00 range. On the flip side, failure to hold support could see the token slide toward $0.70.
Best Wallet Gains Attention as ADA Traders Reassess Strategy
With ADA volatility rising, self-custody tools are back in focus. Best Wallet is emerging as a top choice for traders looking to preserve gains, access presales, and optimize staking rewards without relying on centralized platforms.
Best Wallet Presale
The wallet’s built-in token scanner, presale access tools, and gas fee optimizations make it particularly appealing to ADA holders seeking exposure to Cardano’s DeFi ecosystem.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
I’m a research analyst with experience supporting Web3 startups and financial organizations through data-driven insights and strategic analysis. My goal is to help organizations make smarter decisions by bridging the gap between traditional finance and blockchain innovation.
With a background in Economics, I bring a solid understanding of market dynamics, financial systems, and the broader economic forces shaping the crypto industry. I’m currently pursuing a Master’s degree in Blockchain and Distributed Ledger Technologies at the University of Malta, where I’m expanding my expertise in decentralized systems, smart contracts, and real-world blockchain applications.
I’m especially interested in project evaluation, tokenomics, and ecosystem growth strategies, as these are areas where innovation can drive lasting impact. By combining my academic foundation with hands-on experience, I aim to provide meaningful insights that add value to both the financial and blockchain sectors.
