Cardano price nears $0.20 as traders keep betting on a rebound
ADA’s small daily gain has done little to repair October’s losses, even as bullish traders continue backing a turnaround.
Cardano [ADA] traded around $0.204 on October 26, giving its holders a little relief after losing 21% over the past month. Its small 0.28% daily gain left it close to the $0.20 price level, where buyers face another test.
But despite the decline, some traders have not given up on the expectations of a recovery. CoinGlass data showed more accounts betting on the prices rising than prices falling, creating a gap between traders’ positioning and ADA’s recent performance.
Rebound hopes survive a difficult month
ADA’s weekly loss stood at 7.58%, according to data seen on CoinGlass. Against that backdrop, a small daily improvement showed limited evidence that the broader slide was ending.
Still, Binance’s ADA account ratio showed roughly 1.82 accounts holding net bets on rising prices for every account positioned for a decline. On OKX, that figure was 2.48.
The latest reading on CoinGlass’s funding chart was also positive. According to what was observed, traders holding bullish positions were paying those on the opposite side to keep their bets open.
Together, these readings suggest that recovery expectations remain alive. But what the reading does not offer is the guarantee that buyers can lift ADA’s price.
What would make the bounce more convincing?
The daily Binance ADA/USD chart showed repeated setbacks since early October. Recent attempts to recover have stopped below earlier peaks, giving sellers the stronger hand in the trend.
Can ADA remain above the $0.20 level? That’s what traders are asking. Its lowest price, at the time of this writing, was around the $0.201 price level, placing that level within reach. If it continues to move below that level, traders will start looking at the earlier trading area near the $0.19.
For buyers, getting back above roughly the $0.21–$0.213 price area would be an initial improvement. ADA would then face another hurdle around the $0.219–$0.225 price area, where several measures of its average price sit.
What holders are waiting to see is if the recovery trend can last longer, and it won’t end up being just a brief bounce.
For now, bullish positioning shows what some traders expect. But ADA’s price trend still needs to show that demand can support those expectations.
Final Summary
- ADA traded near the $0.204 price level after losing 21% over the past month.
- Bullish account positioning continued, while the $0.20 price level remained the immediate price test it faces.
