The post Cardano price outlook as open interest drops appeared on BitcoinEthereumNews.com.

ADA traded near $0.26 as bulls looked to break above a key resistance line. Open interest hovered around $414 million, sharply down over the past month. ADA price could drop to $0.22 or lower if bears strengthen. Cardano’s ADA remains under pressure as buyers struggle to regain momentum, with the token retreating from a key technical resistance level near $0.26. The cryptocurrency is now down more than 20% year to date. The decline has also pushed Cardano out of the top 10 cryptocurrencies by market capitalisation, after Hyperliquid (HYPE) climbed to around $38 and moved into the 10th position on CoinMarketCap. As of March 12, 2026, Hyperliquid’s market capitalisation stood at about $9.6 billion, slightly ahead of Cardano’s $9.4 billion. The ranking shift could reverse if a potential recovery driven by bullish network-related developments supports ADA’s price. Otherwise, the prevailing downtrend could push the altcoin toward new multi-month lows. Cardano open interest falls to $414 million Cardano’s ADA has trended lower since reaching a peak of $1.01 in August 2025, with derivatives market data reflecting the weakening momentum. Over the past several months, Cardano’s open interest has declined sharply from about $1.87 billion when the token rallied above $1. By October 2025, open interest in outstanding ADA futures contracts had fallen to roughly $1.5 billion, before dropping further to around $842 million by mid-January 2026. The metric now stands at approximately $414 million as of March 12, 2026. Open interest typically falls as leveraged positions unwind, indicating reduced participation from speculative traders. The decline of more than 50% from January levels suggests that confidence in ADA’s near-term price outlook has weakened, aligning with the token’s broader bearish trend. ADA price outlook: bulls face downtrend risk Cardano price hovers near the resistance line of a parallel channel formed since Feb. 26.…

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Filed under: News - @ March 12, 2026 6:29 pm