Cardano Price Drops 4.68% as Volatility Signals Emerge
Cardano’s (ADA) price dropped 4.68% today, reaching $0.7325 amid broader market selling pressure.
Key points about ADA's recent performance include:
- Price fluctuations between $0.69 and $0.77 over the past week.
- Tightening Bollinger Bands signal potential for increased volatility.
- Current trading range defined by critical levels of $0.77 (bullish breakout) and $0.69 (bearish breakdown).
- Increased whale activity with 190 million ADA purchased last week, but no significant price change followed.
- ADA futures open interest decreased over 7.65%, dropping below $800 million from a peak of $1.50 billion in January 2025.
- 24-hour liquidations reached $2.83 million, predominantly in long positions.
Recent developments include:
- Nubank, backed by Warren Buffet, added Cardano to its crypto portfolio, leveraging its 90 million user base.
- Interactive Brokers expanded crypto trading services to include Cardano, enhancing liquidity and trading opportunities.
- ADA's potential inclusion in upcoming ETF applications could drive significant price movement.