TLDR

  • ADA hovers between $0.25 and $0.257 following an almost 9% decline across seven days
  • Open interest climbed 3.87% reaching $428.45 million, while volume jumped 33.39% to $779.84 million
  • Network activity shows declining daily active addresses since January’s end, currently at 13.5K
  • Partnership with Archax, an FCA-regulated UK digital exchange, received official confirmation from Cardano Foundation on March 8
  • Primary resistance level positioned at $0.2614 (Fibonacci 0.5 retracement); successful breakthrough could push toward $0.2826

Cardano (ADA) maintains a position near $0.2572 this Monday, showing modest recovery following a challenging week marked by approximately 9% losses. The cryptocurrency continues trading beneath both its 50-day and 100-day moving averages, maintaining the prevailing bearish trend structure.

Cardano (ADA) Price
Cardano (ADA) Price

Open interest registered a 3.87% increase to $428.45 million, while trading volume experienced a substantial 33.39% surge reaching $779.84 million. This volume expansion coincided with announcements regarding Cardano’s partnership with Archax, a digital exchange operating under UK Financial Conduct Authority regulation.

Source: Coinglass

Binance’s long/short ratio indicates 1.81 for regular accounts and 1.94 among elite traders, demonstrating that leveraged positions favor the long side. Total liquidations reached $183.61K, with short positions accounting for $180.90K of this figure.

While volume experienced a short-term boost, blockchain metrics paint a more reserved picture. Daily active addresses have experienced consistent decline since January’s conclusion, currently registering 13.5K. Reduced active address counts typically correlate with diminished network demand.

Archax Integration Opens Institutional Door

Cardano Foundation CEO Frederik Gregaard announced on March 8 that Cardano achieved successful integration within the Archax ecosystem. The platform functions under UK FCA supervision and complies with EU regulatory frameworks.

This integration enables MemberCaps Fund I tokens to reside within Archax’s regulated infrastructure. Digital assets created through Archax on Cardano will face rigorous financial oversight from inception.

Gregaard characterized the agreement as “a tough one” to finalize. The partnership establishes a compliant channel for major financial institutions to tokenize conventional assets — including real estate and securities — utilizing the Cardano blockchain.

Technical Levels to Watch

The 4-hour chart displays ADA examining the Fibonacci 0.5 retracement level positioned at $0.2614. Four EMAs cluster between $0.2574 and $0.2699, creating a resistance zone that price must overcome.

Source: TradingView

An ascending trendline provides support around $0.2458. Should this level fail, the $0.25–$0.24 range represents the subsequent structural foundation.

Resistance beyond $0.2614 stretches to the Fibonacci 0.382 level at $0.2826, followed by the descending channel’s upper boundary spanning $0.29 to $0.31.

The daily chart RSI registers 41, indicating weakened momentum. The MACD lingers close to the zero line, reflecting a moderately bearish orientation.

A daily closing price exceeding $0.27–$0.28 would be required to alter the technical landscape. Trading below $0.27 leaves bears in control.

As of March 9, ADA maintains its position near $0.2572 following Archax integration confirmation and derivatives data revealing fresh capital flowing into long positions.