Overview
- Cardano rose roughly 10–11% to about $0.26–$0.27, testing near-term resistance around $0.28 on Monday.
- The jump coincided with a sharp rise in spot activity, with CoinGlass-linked reporting showing a roughly 297% surge in spot volume during the move.
- Short-covering helped fuel the advance, with short liquidations reported at about $2.1 million while exchange deposits also rose, leaving some traders exposed to further squeezes.
- Derivatives metrics are contradictory across providers, with one dataset showing open interest down about 11.7% and another showing open interest up about 18% to $635 million, and long/short ratios giving mixed positioning signals.
- Technical indicators show strength but near-overbought readings (RSI near 70 and stochastic very high), so a sustained close above $0.28 would bolster bulls while a break below $0.24–$0.25 would undercut the short-term rally and raise the risk of a deeper pullback.