Cardano (ADA ($0.41)) has seen a strong rebound of over 6% in the last 24 hours, recovering from a recent correction phase. This bullish reversal has sparked renewed investor confidence, evident in a sharp rise in open interest. According to data from CoinGlass, traders have committed 1.2 billion ADA, pushing open interest up by 26.42%. The total value now stands at approximately $958.11 million based on current futures metrics.

This increase in open interest indicates a growing belief among traders that Cardano is poised for further upward movement. Although ADA has struggled to regain the $1 price mark since March 2025, the current momentum could finally drive a breakthrough. However, ADA must first overcome the crucial resistance level at $0.95. As of the latest data, ADA trades at $0.8002, reflecting a 5.78% increase over the past day.

Volume Spikes as Market Activity Intensifies

Investor interest has also fueled a sharp rise in trading volume. Cardano’s 24-hour trading volume has jumped by 69.02% to reach $1.29 billion. This growing activity suggests that buyers are actively positioning for a sustained rally. If this momentum continues, ADA may soon break through its resistance and aim for the long-awaited $1 milestone.

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Most of the bullish bets are being placed on Bitget and Binance. Bitget has recorded an open interest of 264.30 million ADA, while Binance has seen 247.54 million ADA in futures positions. These figures are valued at $212.02 million and $198.65 million, respectively. The data shows a strong conviction from traders on both platforms that ADA can sustain its rally.

Whale Activity Strengthens Bullish Outlook

Further boosting market confidence, Cardano whales accumulated nearly 80 million ADA shortly before the recent price surge. Analysts see this move as a strategic buildup in anticipation of the current breakout. With ADA now sitting at $0.80, the next test will be holding that level and establishing a stable base for the next leg upward.

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Cardano’s Bollinger Bands are beginning to widen, which typically signals increased volatility and potential price spikes. As investor optimism builds, market watchers remain focused on whether ADA can maintain its upward momentum and finally reclaim the $1 mark.

Cardano’s recent surge in both price and open interest points to a bullish revival that could soon challenge major resistance levels. With whale accumulation, rising trading volumes, and strong futures positioning on key exchanges, ADA appears well-positioned to aim for the $1 psychological threshold.

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