After facing a rejection above the $0.95 mark, the Cardano (ADA) price has been on a period of consolidation this week. Over the last few weeks, ADA price has witnessed high volatility, and the asset is presently trading at a level close to $0.85.
The general sentiment in the market is not clear but the chart of Cardano is now hinting at some signs of a short-term technical pattern that might determine the immediate future course of this asset.
Cardano ADA Derivatives Data Analysis
The derivatives data from Coinglass, shows that the market sentiment is mixed for Cardano (ADA). The overall volume has declined by 41.65% to 4.08 billion in total, while the open interest declined by 6.66% to 1.66 billion, indicating reduced trader activity.
On the other hand, options volumes are also at crucial levels as the data shows that volumes have slumped 92.94% and the open interest is metal flat by -0.27%.
Cardano ADA Derivatives Data Analysis, Source: CoinGlass
The long/short ratio is on a bullish stance despite the loss of momentum as it is on 0.9234. Furthermore, the liquidation data indicates shorting strain. Shorts have lost $665.13K in the last 24 hours compared to liquidations of only $6.17 million on longs. This shows that sellers are more pressurized in the market.
ADA Price Forms Symmetric Triangle Pattern
One of the most typical continuation patterns is the symmetrical triangle, a sequence of lower highs and higher lows that narrow down into a tightening range. This is a sign of uncertainty in the hands of the traders since neither the buyers nor the sellers have the ultimate power.
The indication of a symmetrical triangle has now got the focus since the triangle is likely to lead to a vigorous breakout. This is because it has started forming a strong support at the $0.83 mark. This altcoin has repeatedly recorded an increase in the positive action around this point since August 18, 2025 as seen in the chart above and creating a similar situation this time.
The Relative Strength Index (RSI) is around the neutral area at 50, suggesting an equal balance between the ease of selling and buying pressure. This strengthens the observation that the market is in a state of indecision as traders are waiting for a breakout of the triangle.
The break out above the resistance of $0.91 would mean another bullish drive. This could further result in ADA reclaiming its psychological level of $1.00 in no time. This level has played a dual role as a support and resistance level, making it one of the vital indicators for consideration.
However, a fall below $0.83, would suggest bearish momentum is growing stronger. In this case, ADA may drift toward its lower support of $0.75. Failure to hold this would leave the market open to additional downside pressure to the levels of $0.70.
Also Read: CME Crypto Futures Top $30B as XRP Hits $1B Fastest Ever
Disclaimer: The Crypto Times does not endorse or promote this digital asset in any manner. This article was created only for educational purposes. Make sure to “DYOR” as the market is highly volatile. New positions should be done by traders being careful and awaiting volume-backed breakouts.
