Cardano futures open interest fell 9% in one week as leveraged demand for ADA weakened. Whales have sold about 90 million ADA since September 20, adding to Cardano’s selling pressure. ADA ris
Cardano faces renewed selling pressure as futures demand weakens and large holders reduce their ADA positions, according to analyst Ali Charts. Open interest has fallen 9% in one week, while whales have sold approximately 90 million ADA since September 20. Ali identified $0.24 and $0.21 as price levels to watch as ADA's correction continues.
Ali Charts reported that Cardano's futures open interest declined from $1.99 billion to $1.81 billion over the past week. The contraction suggests traders are reducing their leveraged exposure to ADA.
https://twitter.com/alicharts/status/2105265467770486979?s=20Meanwhile, large holders have offloaded roughly 90 million ADA since September 20. Ali estimated the value of these sales at approximately $22.5 million, adding to recent selling pressure.
The decline in futures demand coincided with a Tom DeMark Sequential sell signal on Cardano's daily chart. The signal appeared on September 26, and ADA has since declined 10%. Ali noted that the correction may continue, identifying $0.24 and $0.21 as levels to monitor.
On the four-hour chart, ADA traded at $0.2435 after recovering from its September 16 low near 0.190–0.195. The token climbed through $0.21, $0.23, and $0.24 before reaching approximately 0.258–0.260 between September 23 and 26.
Source: TradingView
However, ADA has struggled to hold those highs and has since traded mainly between $0.24 and $0.26. The latest candle opened at $0.2439, reached $0.2445, and touched $0.2432 before closing at $0.2435, down 0.16%.
Trading volume currently stands at approximately 2.68 million ADA, below the larger spikes recorded during the September rally. The $0.25 level remains an important pivot, while $0.26 represents visible resistance.
ADA's relative strength index is at 45.52, below its average of 50.13. This places momentum below the neutral 50 level, although it remains above oversold territory.
The MACD also reflects short-term weakness, with its value at -0.0008, below the -0.0002 signal line. Its histogram reads -0.0006.
A sustained move above 0.25–0.26 could reopen higher levels. However, losing $0.24 could expose support near $0.23 and the 0.21–0.22 region, aligning with Ali's identified levels.
