Cardano’s ADA Falls 5.41% as Futures Open Interest Rises 17.25%

Cardano’s ADA fell 5.41% to $0.24 in the 24 hours ending Oct. 9 at 3 a.m. ET (07:00 UTC), while rising futures open interest and mixed trading signals left the market’s next direction unresolved.

ADA traded between $0.22 and $0.26 on Binance spot before settling at $0.24. The price matched a calculated technical pivot and the 26-day exponential moving average. Immediate support stood at $0.22, followed by stronger support at $0.21. Resistance was identified at $0.26–$0.27.

Futures open interest on Binance rose 17.25% over the same 24-hour period to about $108 million, representing 390.33 million contracts at 3 a.m. ET. The increase came as ADA traded below its seven-day and 20-day simple moving averages and its 12-day exponential moving average, all at $0.25.

ADA remained above the 50-day simple moving average at $0.23 and the 200-day average at $0.21. Its 14-day relative strength index was 49.75. The moving average convergence-divergence line and signal line were both 0.0075, while the histogram was flat at 0.0000.

Derivatives indicators pointed in different directions. The eight-hour funding rate was -0.0106%, meaning traders holding short perpetual positions were paying those holding long positions. The figure did not establish which side drove the increase in open interest.

Long positions accounted for 67.1% of Binance accounts, compared with 32.9% short, producing a long-short ratio of 2.0386. Among top-trader accounts, 71.1% were long and 28.9% were short, for a ratio of 2.4602.

Trading flow leaned toward selling during the measured one-hour period. The taker buy/sell ratio was 0.9011, with $17.07 million in buying volume versus $18.95 million in selling volume. Binance spot volume totaled $67.5 million over 24 hours.

The move follows ADA’s 3.3% one-hour decline as long liquidations mounted on Oct. 8. A move above $0.25 would bring the $0.26–$0.27 resistance area into focus, while a daily close below $0.22 would shift attention to $0.21. Those levels represent technical scenarios, not price targets.