Cardano Price Holds Above $0.60 as Leveraged Longs Surge 8.6%

Cardano has started the new trading week with a mix of technical tension and market optimism. The price of Cardano held above the key $0.60 level despite a modest drop on Sunday, reaching $0.63 on Monday. Bulls successfully defended this crucial support, encouraged by increased leveraged long positions. This sentiment shift occurred amid recent news about founder Charles Hoskinson, who dismissed the importance of political alliances with figures like Donald Trump.

Over the weekend, derivatives activity for ADA spiked notably, signaling growing investor confidence. Trading volumes surged over 8.6% to exceed $700 million. Open interest also climbed, reaching $635 million. These metrics suggest underlying momentum may be building despite price consolidation. With lower volatility and tightening technical indicators, conditions seem ready for a decisive ADA price breakout. This could push Cardano above the $0.65 resistance or trigger a drop toward $0.55 if support fails.

As the broader crypto market enters a phase of cautious optimism, Cardano has seen increased risk-tolerant behavior from traders. The derivatives market reveals leveraged longs are building rapidly. Open interest in ADA contracts grew even as the Cardano price dipped slightly, reflecting confidence that many believe the $0.60 support level will hold firm. This indicates traders are increasing bullish bets, anticipating a move beyond $0.65 resistance.

Institutional and retail investors alike appear to be driving this accumulation phase. This commitment suggests participants are looking past the short-term news, focusing on ADA’s strong fundamentals. However, elevated leverage also introduces volatility risk. If the $0.60 level breaks decisively, a series of liquidations could rapidly push prices toward $0.55, undermining the current optimism.

ADA’s current technical structure shows compression and potential momentum. The Bollinger Band Percent (BBP) is at -0.0088, indicating the Cardano price is just below its average range. This often precedes significant movement for an asset. The 4-day simple moving average (SMA) has flattened near current price levels, suggesting indecision. Meanwhile, the longer-term 60-SMA remains much higher, reinforcing a macro downtrend ADA has yet to shake off.

This compression may offer bulls an opportunity. Surpassing the $0.65 mark would break short-term resistance. This could also trigger a rally toward $0.70. Such a move would represent a meaningful reversal of recent downtrends and provide renewed momentum for the token. However, Cardano’s ability to hold the $0.60 support remains critical. Any breakdown here could invalidate bullish setups and reintroduce bearish sentiment.

While ADA’s market performance is driven by trader sentiment, recent news has attracted attention. Charles Hoskinson’s remarks at Paris Blockchain Week made headlines when he specifically noted his indifference toward building ties with Donald Trump’s team. This came after ADA was notably absent from several Trump crypto initiatives, even though it had initially been included in a strategic reserve proposal.

Hoskinson downplayed the significance of this absence. He suggested that short-term political alignment offers little long-term influence on blockchain policy. Most traders seem focused instead on trading volumes, price stability, and technical levels. This shift from politically driven narratives may benefit future news coverage. It would keep the focus on technology and market behavior, not speculative headlines.

All signs point to an important week for Cardano. With leveraged positions increasing and the $0.60 level holding firm, ADA price appears headed for a decisive move. Whether that results in a bullish CardAno price surge past $0.65 remains to be seen. A painful retest of $0.55 is also possible. The current tight trading range suggests the calm may not last much longer.

As volatility looms, traders will watch for breakout signals. If bulls succeed in defending key technical levels, Cardano could chart a bullish path toward higher resistance zones. However, if sentiment shifts, the leveraged exposure may backfire quickly. For now, all eyes remain on the charts determining the ADA price direction.