It’s been a while since Cardano was among the top gainers. In recent weeks, Ethereum and Solana have done most of the heavy lifting. Today is different. ADA jumped about 16% and is now trading just under $1, even as some big-cap alts cool off to see what happens next with Ethereum’s run toward highs.
What the ADA chart shows
On the 4-hour ADA/USDT chart, price has ripped from the early-August low near $0.68 to today’s spike toward $1.00. The structure since August 5 is clean: higher lows, then a vertical push that broke through a stack of prior highs around $0.82 → $0.88 → $0.92 → $0.96.
Volume backed the move. Green bars expanded into the breakout, which tells us buyers were active and this wasn’t a thin-liquidity pop.
Open interest also climbed with price (roughly 369M). Rising OI alongside rising price usually means new positions are opening with the trend, not just shorts covering.
Positioning is still a bit tense. Your Net Short line sits around ~756M, while Net Long is roughly ~665M. Shorts are still heavier, which leaves room for more squeeze fuel if ADA holds the breakout.
On the higher timeframe, the daily RSI is ~74, which is overbought. That doesn’t kill the trend, but it often brings a pause or a retest before the next push.
- Resistance: the $1.00–$1.02 psychological zone first, then $1.05–$1.10 if momentum continues.
- Support: $0.95–$0.97 is the first area to defend (today’s breakout shelf). Below that, $0.90–$0.92 is the bigger line in the sand, with $0.86–$0.88 as deeper support.
Read also: Kaspa (KAS) vs Cardano (ADA): Which Is Going to $5 First?
Short-term ADA price outlook (next few days)
- Bullish path: Hold above $0.95–$0.97, flip $1.00 into support, and press toward $1.05–$1.10. If shorts keep getting squeezed and ETH strength spills over, a quick wick toward $1.12–$1.15 is possible.
- Healthy pullback: Rejection at $1.00 leads to a retest of $0.93–$0.95. As long as buyers defend that zone and OI doesn’t unwind, the uptrend stays intact.
- Bearish risk: Lose $0.90, and momentum likely cools into $0.86–$0.88. That would turn today’s spike into a failed breakout.
Bottom line: ADA finally caught a strong bid. Volume and open interest confirm real participation, shorts are still leaning the wrong way, and the trend is up. Just respect the $1.00 hurdle and the overbought daily RSI—brief pauses or shakeouts can happen before the next leg higher.
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