Cardano held above the $0.2200 level on Monday as buyers tried to stabilize the token following a decline of roughly 12% over the previous week, according to KuCoin. The pause comes with ADA down more than 10% so far in October, leaving the market searching for signs of conviction behind any recovery.
The stabilization matters because it is unfolding against a backdrop of weakening derivatives activity and subdued positioning among large wallets, conditions that KuCoin said suggest limited conviction behind a rebound. With the token still trading beneath its key moving averages, sellers retain the near-term advantage even as the price steadies.
Futures open interest slides
CoinGlass data cited by KuCoin showed Cardano futures open interest fell to $465.87 million on Monday from $549.14 million last week, wiping out about 14.5% of the notional value tied up in outstanding contracts. The decline points to lighter positioning in derivatives markets, though it does not prove that retail traders alone are exiting the market.
Part of the drop may be mechanical rather than a pure exodus of traders. Falling ADA prices shrink the dollar value of open interest, and position closures or liquidations can also push the figure lower, KuCoin noted.
Funding rates, meanwhile, remained positive at 0.0032%, meaning long positions were paying shorts in the tracked perpetual market. KuCoin said the modest positive reading suggests some traders are still positioned for a rebound, though funding alone does not demonstrate excessive leverage; a further price decline could still squeeze vulnerable longs and trigger additional forced selling.
Large wallets show mixed signals
Onchain figures indicate large holders have made only modest adjustments to their exposure. According to Santiment data cited by KuCoin, the biggest wallets, those with balances above 100 million ADA, now control 15.99% of the circulating supply, up marginally from 15.95% a week earlier.
The cohort holding between 10 million and 100 million ADA moved in the opposite direction, representing 38.11% of supply, down from 38.27%. KuCoin described the opposing movements as a mixed picture rather than a clear accumulation trend, and cautioned that the figures alone do not establish whether tokens were sold, transferred between wallets or shifted across holding categories.
Taken together with lower futures exposure, the onchain data offers limited evidence of renewed buying conviction, according to KuCoin.
Technical picture stays weak
ADA continues to trade beneath its 50-day Exponential Moving Average near $0.2290 and its 200-day EMA around $0.2395, according to KuCoin. Last week's break below trendline support near $0.2321 adds to the weak structure and leaves several barriers stacked above the current price.
Momentum indicators point the same way. The Moving Average Convergence Divergence indicator sits below zero with a negative histogram, and the Relative Strength Index is hovering near 41, a reading that suggests sellers retain the upper hand even though ADA has not reached the conventional oversold threshold of 30.
Unless the price recovers through nearby resistance, KuCoin views the latest stabilization as merely a pause inside the ongoing correction, not proof that the trend has reversed.
Levels traders are watching
If selling resumes, the psychological $0.20 level is the immediate downside reference, according to KuCoin. Below that, the August 30 low near $0.1894 represents the next structural support, and a move toward that area would amount to roughly 14% to 15% downside from the current price zone.
To the upside, the first hurdle for buyers is the 50-day EMA at $0.2290. After that, the broken trendline near $0.2321 stands in the way, with the 200-day EMA at $0.2395 beyond it, and KuCoin said a sustained push through those barriers would help weaken the bearish setup.
Barring that kind of recovery, the token stays vulnerable to deeper declines while market participants gauge whether buying interest can build near the $0.2200 area, KuCoin reported.
What would change the outlook
For now, the balance of evidence leans against the bulls: open interest has contracted by roughly 14.5% in a week, large-wallet cohorts are sending conflicting signals, and the price sits below both major EMAs with momentum indicators still negative, according to the data cited by KuCoin.
A decisive reclaim of the $0.2290 to $0.2395 band would be the first concrete sign that the corrective phase is easing, while a loss of $0.2200 would put the $0.20 handle and then the August 30 low back in play, according to KuCoin's analysis.
Cardano price action in context
The token's roughly 12% slide last week and its more than 10% decline so far in October frame Monday's hold above $0.2200 as a defensive effort rather than a confirmed turn, according to KuCoin. The daily chart remains under pressure following the break of trendline support near $0.2321.
Whether the current floor holds will likely depend on if buying interest can absorb supply near $0.2200 while derivatives positioning resets, KuCoin's report indicated.
Conclusion
Cardano steadied above $0.2200 on Monday after a roughly 12% weekly drop, but futures open interest fell about 14.5% to $465.87 million, large-wallet positioning remained mixed and the price stayed below its 50-day and 200-day EMAs, according to data cited by KuCoin. The next concrete test is whether buyers can reclaim the $0.2290 to $0.2395 resistance band; failure to do so leaves the $0.20 level and the August 30 low near $0.1894 as the downside references traders are watching.
Frequently Asked Questions
What is Cardano's price level on Monday?
On Monday, ADA managed to stay above the $0.2200 mark as buyers worked to steady the token following a roughly 12% slide the previous week. ADA has lost more than 10% so far in October, according to KuCoin.
How much did Cardano futures open interest fall?
CoinGlass data cited by KuCoin showed open interest in Cardano futures dropped to $465.87 million on Monday, down from $549.14 million a week earlier, a reduction of about 14.5% in notional terms. The drop suggests reduced derivatives exposure, though falling prices, closures and liquidations can all contribute.
What downside targets are traders watching for ADA?
The psychological $0.20 level is the immediate downside reference if selling resumes, according to KuCoin. Below it, the August 30 low near $0.1894 is the next structural support, a move that would represent roughly 14% to 15% downside from the current price area.
What resistance must Cardano clear to weaken the bearish setup?
Buyers first need to challenge the 50-day EMA near $0.2290, then the former trendline support around $0.2321, followed by the 200-day EMA at $0.2395. KuCoin said holding above those barriers on a sustained basis would help undermine the bearish outlook.
What do large ADA wallets signal about accumulation?
Santiment data cited by KuCoin showed wallets holding over 100 million ADA rose slightly to 15.99% of supply from 15.95%, while the 10 million to 100 million ADA cohort fell to 38.11% from 38.27%. KuCoin described the opposing moves as a mixed picture rather than a clear accumulation trend.