Cardano Faces Critical Test at $0.85 Support Level

Cardano’s ADA token is currently trading within a narrow band between $0.88 and $0.90, approaching a decisive moment for its near-term trajectory. The cryptocurrency faces immediate resistance at the $0.95 level, but the true battle is being waged at the crucial $0.85 support threshold that could determine its next significant move.

Recent on-chain metrics reveal a complex picture for Cardano. Trading volumes have increased by 16%, and ADA has successfully broken through a key 7-day resistance level. However, moderate net outflows totaling $644,000 suggest a pattern of cautious accumulation rather than aggressive buying.

The network continues to demonstrate organic growth, with active addresses showing steady increases?an indicator of genuine usage rather than purely speculative activity. Futures open interest has stabilized,... Read more...