Cardano (ADA) recorded a 4.81% price increase over the last seven days. This came as ecosystem development signals that the blockchain might soon integrate with Bitcoin (BTC).
Amid this positive sentiment, Cardano’s Open Interest suggests that ADA might witness a rebound soon in the crypto space.
Open Interest Surge Reflects Bullish Bets on ADA
As per CoinGlass data, in the last 24 hours, 986.66 million ADA have been committed to Open Interest by investors trading ADA futures.
This volume represents $611.47 million at the current market value of ADA. This indicates that ADA holders are betting on the asset’s rebound in the coming days.
Market participants have patiently waited for ADA to reclaim the $1 psychological level since it slipped below it in the first week of March 2025.
However, market volatility and price fluctuations have kept the coin’s value below this critical level.
With this renewed interest from ADA’s investors, ADA could likely re-attempt another climb supported by ecosystem sentiments.
For instance, a spike in trading volume, currently down by 1.39% to $582.18 million, could help push prices towards the target.
Investors on the Binance, Bitget, Gate.io, and Bybit exchanges are experiencing a surge in open interest.
Binance recorded 23.55% of the total Open Interest with 232.20 million ADA valued at $144.03 million. This is closely followed by Bitget, which has a share of 21.82% or 215.33 million, worth $133.46 million.
Gate.io and Bybit had 15.37% and 14.56%, respectively, representing $93.98 million and $89.09 million, respectively.
Cardano Price: Bullish Technicals In Spotlight
According to market data, ADA price has increased by 3.33% to $0.6266 in the last 24 hours.
Crypto Insight, an on-chain analytical platform, highlighted Cardano’s April technical analysis. The chart teases a potential bullish trend.
As per the indicators, a breakout is likely if Cardano price can find support above $0.60, supported by the 20-day moving average, and resistance at $0.65.
The chart also indicates that the price is forming a higher low. This trend signals that Cardano buyers are becoming more aggressive and bullish about its future outlook.
Analysts have projected that ADA holders need to monitor the $0.70 – $0.75 range, as an uptick in this range could push the coin higher.
Notably,ADA bulls must support the push above the key resistance of $0.73.
ADA slipped from $0.77 in the last week of March and has not retested the zone since. Rather, it plummeted to $0.5165 before posting its current rebound in the crypto market.
Cardano 2025 Proposal and Voltaire Era Impact
In other Cardano news, the key blockchain fundamentals also support a bullish outlook for ADA. Notable among these is the Cardano 2025 proposal, which is now live.
The proposal offers insight into what lies ahead for ADA and how the future would depend on research and innovation to stay competitive in the broader digital currency space.
It focuses on improving scalability using an upgraded version of its consensus protocol known as Ouroboros Leios.
Cardano plans a full governanetwork decisionsnce shift. The community will soon have control over decisions made on the network, a move that could attract more investors to the blockchain.
Furthermore, the final phase of Cardano’s roadmap, the Voltaire era, could help make the ecosystem self-sustaining in terms of development funding.
Source: https://www.thecoinrepublic.com/2025/04/18/cardano-open-interest-set-pace-for-big-rebound-what-next-for-ada-price/