Cardano jumps 23% in September, but analysts flag bearish signals near $0.24 support
AI Market Summary
Despite a strong September gain, multiple near-term risk signals are emerging for ADA: futures open interest fell ~9% week-on-week, indicating reduced leveraged demand; whales reportedly sold ~90M ADA since Sep 20, adding spot supply; and a daily Tom DeMark Sequential sell signal coincided with a ~10% drawdown. Focus is on ~$0.24 as key support, with historical October underperformance adding caution.
Impact level
● Medium
Affected assets
ADA/USDT+1.98%
AI Insight · ADA/USDTAI Insight
▼ Bearish
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Cardano’s ADA rose about 23% in September but is now facing a cluster of bearish signals. Over the past week, futures open interest fell 9% from nearly $2 billion to about $1.81 billion. Since September 20, large holders have sold 90 million ADA worth around $22.5 million, while the token’s valuation has dropped 10% over the same period. Analysts highlight $0.24 as a key midrange support, with a break potentially opening the way to $0.21.
