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Cardano Futures Hit $6.9B as ADA Price Eyes Breakout Beyond $1.25

14 hours ago
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TLDR:

  • Cardano futures volume hit $6.96B, marking its highest level in five months, according to data from Glassnode.
  • ADA price trades near $0.92 after a weekend rally faded, leaving traders watching a key breakout setup.
  • Analyst Sssebi points to a bullish triangle structure with support at $0.85 and resistance near $1.00.
  • Dan Gambardello notes $1.25 remains the bull market trigger zone, calling it a key “doors open” level for ADA. 

Cardano is back in focus after its futures market recorded its strongest activity in months. Trading volume hit $6.96 billion, the highest level in five months, according to on-chain data from Glassnode. This surge comes as ADA’s spot price wavers near $0.92, placing the asset at a make-or-break moment. 

Market analysts point to a narrowing technical setup, suggesting a decisive move could unfold soon.

At the same time, traders remain divided. Some highlight bullish structural signals, while others caution that recent moves have already shown signs of exhaustion. The mixed sentiment underscores the delicate balance Cardano faces heading into the week.

Cardano Futures Volume Hits $6.96B Amid Market Anticipation

Analyst Ali (@ali_charts) shared Glassnode data showing Cardano futures volume reached $6.96 billion, its strongest level since March. The chart indicates a clear upward trajectory beginning mid-July, showing steady accumulation of momentum leading into August.

Such activity often reflects heightened speculation and leverage as traders prepare for a potential breakout. Historically, Cardano has seen sharp price swings when derivatives volume builds in this way. 

Whether that pressure resolves higher or lower remains tied to near-term support and resistance levels.

CoinGecko data shows ADA trading at $0.9128 at press time, down 2.71% in 24 hours but still up more than 10% over the past week. Daily turnover stood at $2.47 billion, reflecting strong participation despite short-term selling pressure.

ADA price on CoinGecko

Cardano Price Action: Weekend Pump Fades Into Triangle Consolidation

Market watcher Sssebi (@Av_Sebastian) said ADA’s weekend rally turned into a “fakeout,” with price pulling back after briefly surging. Despite the drop, he noted structure still looked bullish, with price consolidating into a symmetrical triangle pattern on the daily chart.

Support sits near $0.85, a zone tested during prior consolidation phases. Resistance looms between $0.95 and $1.00, the upper band of the triangle and a local high. A breakout above this area could set up a run toward $1.05 and beyond, while a failure would risk revisiting $0.80.

Indicators show mixed signals. The 50-period moving average has been climbing, offering dynamic support near $0.87. RSI remains neutral, suggesting room for either direction. 

However, volume has thinned during consolidation, and analysts stress that a confirmed breakout will require stronger participation.

Analysts Watch $1.25 as ADA’s Bull Market Trigger

While traders track the immediate $1 breakout, longer-term watchers have their eyes set higher. 

Analyst Dan Gambardello (@cryptorecruitr) described $1.25 as the “bull market doors” for Cardano. He argued that crossing that level would confirm a new cycle trend, turning short-term volatility into broader momentum.

This threshold sits above the current resistance band and represents the top of a multi-month consolidation range. If ADA were to push through, historical price action suggests sustained continuation could follow. 

For now, however, the asset remains locked in a decision zone, with traders waiting on confirmation.

 

The post Cardano Futures Hit $6.9B as ADA Price Eyes Breakout Beyond $1.25 appeared first on Blockonomi.

Source: https://blockonomi.com/cardano-futures-hit-6-9b-as-ada-price-eyes-breakout-beyond-1-25/