Cardano holds above $0.22 as falling OI signals risk of further losses

Key takeaways ADA futures open interest fell to $475.58 million from $549.14 million, reflecting reduced derivatives exposure. Positive funding shows a modest bullish tilt among perpetual traders, leaving longs vulnerable if prices fall further. ADA remains below key moving averages, with $0.1894 emerging as a potential downside target. Cardano Stabilizes After Sharp Weekly Decline Cardano held above $0.2200 on Monday as buyers attempted to steady the price following a roughly 12% decline last week. ADA has lost more than 10% so far in October, while weakening derivatives activity and subdued large-wallet positioning suggest limited conviction behind a recovery. The daily chart also remains under pressure after last week’s break below trendline support near $0.2321. With the token trading beneath its key moving averages, sellers retain the near-term advantage.

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