Despite a 17% drop over the past month, futures volume on BitMEX surged by more than 16,400%, hitting $44.15 million according to Coinglass.
Meanwhile, ADA has managed to hold its key support zone between $0.30 and $0.35, and is currently trading near $0.40, still down 87% from its all-time high of $3.10.
Price action remains tightly consolidated, with traders closely watching for updates on a potential spot ADA ETF.
Grayscale has submitted an application, now under SEC review, but no official approval has been granted yet.
Grayscale's spot Cardano $ADA ETF hasn't been approved by the SEC yet. 🇺🇸
The application is still under review, with a decision now expected in early 2026.
Fingers crossed we see an approval in the coming weeks!
— Cardanians (CRDN) (@Cardanians_io) January 7, 2026
ADA Price Analysis: What’s Next for Cardano?
ADA saw a slight bounce this week after a sharp rejection below the descending trendline visible on the daily chart below.
Price is now compressing after months of lower highs while volatility is contracting near historical demand.
Also, the MACD indicator remains slightly green while the RSI indicator reads a value of 50, which means that the bulls are attempting a takeover.
However, to complete a reversal, the nearest resistance should be cleared first.
Source: TradingView
In the bullish case, the first resistance level sits near $0.70. A daily close above that level opens the path toward the $1.30-$1.35 region.
If momentum carries beyond that zone, the chart projects a longer-term extension toward $2.
On the other hand, a very important support level stands at $0.30. A clean daily close below it would result in a major correction. In that case, a revisit of the $0.27-$0.28 lows is likely.
A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.
