Key Highlights
- ADA maintains position near $0.25 following rejection at critical resistance earlier this week
- Leveraged long positions faced approximately $545K in liquidations during the last 24 hours, open interest stands near $412 million
- Derivatives traders show bearish positioning with long-to-short ratio at 0.84
- Total mainnet transactions on Cardano surpassed 120 million, setting a new record
- Addresses holding 10M+ ADA tokens climbed to 424, marking a four-month peak with 5.2% growth over nine weeks
Cardano (ADA) continues to hover around the $0.25 level on Friday following a rejection from resistance earlier this week. Currently, the asset trades beneath its 50-day, 100-day, and 200-day Exponential Moving Averages (EMAs), which form a cluster ranging from $0.27 to $0.40.
Leveraged traders experienced significant pain during the recent downturn. Data from CoinGlass indicates approximately $545K worth of long positions were liquidated in the previous 24-hour period, contributing to total ADA futures liquidations approaching $626K. Meanwhile, open interest maintains elevated levels at roughly $412 million.
The OI-weighted funding rate has flipped negative, indicating that short position holders are now paying fees. This dynamic typically constrains upward momentum until genuine spot market demand returns.
CoinGlass reports the long-to-short ratio for ADA currently sits at 0.84. Any reading beneath 1.0 signals that more market participants are positioned for continued downside rather than anticipating a rebound.
The daily Relative Strength Index (RSI) lingers in the mid-40s range, positioned just beneath the neutral 50 threshold. Meanwhile, the MACD line shows marginal positivity, though the Supertrend indicator remains red. Collectively, these technical signals suggest a weak, sideways-trending market lacking clear directional conviction.
Broader market conditions contributed additional downward pressure this week. Bitcoin dipped under $71,000 after reports of a U.S.-Iran ceasefire agreement emerged, sparking profit-taking throughout major digital assets. ADA typically mirrors BTC’s downward movements swiftly during such events.
Large Holders Quietly Expand Positions
On-chain analytics from Santiment reveal that 424 wallet addresses currently hold a minimum of 10 million ADA tokens. This figure represents a four-month high and reflects a 5.2% expansion throughout the past nine weeks. These substantial holders have been increasing their holdings while price action remained subdued.
🐳 Cardano's number of wallets holding at least 10M $ADA tokens has ballooned to a 4-month high of 424, a +5.2% rise in 9 weeks. Even though it has not decoupled from other altcoins yet in 2026, its market value is +11% since it bottomed out back on February 5th. pic.twitter.com/5HgvwadvsQ
— Santiment (@santimentfeed) April 6, 2026
ADA’s valuation has climbed approximately 11% from its February 5 bottom, though it hasn’t deviated from the general altcoin pattern observed in 2026.
The immediate support zone is positioned at $0.24. A daily candle close beneath this threshold would breach a horizontal trading range maintained since early February and would bring the March 29 low of $0.2328 into consideration. Further downside would target the February low at $0.2205.
Blockchain Usage Reaches All-Time High
Despite subdued price performance, Cardano’s network engagement continues expanding. Blockchain analytics platform Cexplorer verified that total transactions on the Cardano mainnet have exceeded 120 million, with the precise count registered at 120,002,067 at the time of reporting.
Cardano $ADA has just crossed 120,000,000 transactions on mainnet. 🥳🥳 pic.twitter.com/OYq9dxEpZR
— Cexplorer.io 🅰️ (@cexplorer_io) April 8, 2026
For upward movement, ADA must recapture the 50-day EMA positioned near $0.268 to alleviate immediate selling pressure. Market analysts have pinpointed $0.299 as the subsequent major resistance barrier should this occur. The $0.24 to $0.25 range remains the critical battleground for market participants favoring upward movement.
