Cardano holds above $0.22 as ADA futures open interest falls to $475.6M, 15% downside risk
- —ADA trades above $0.22, below its 50-day EMA at $0.2290 and 200-day EMA at $0.2395
- —ADA futures open interest dropped to $475.58M from $549.14M last week
- —Funding rate at 0.0032% shows traders betting on a rebound, raising long-squeeze risk
- —Wallets holding over 100M ADA control 15.99% of supply, up from 15.95% a week ago
Why it matters: Fading retail demand and muted whale activity raise the odds of a long squeeze and a drop toward $0.19.
Source: FXStreet Crypto