Cardano Price Prediction: Bulls Test Fibonacci Resistance as Open Interest Surges After Archax Deal

• Cardano tests Fibonacci 0.5 retracement at $0.2614 as open interest surges 3.87% to $428.45 million.
• Volume explodes 33.39% to $779.84 million following Archax integration for EU-regulated tokenization.
• Ascending trendline (red dotted line) provides support at $0.2458 as price targets channel resistance near $0.27 to $0.29.

Cardano price today trades near $0.2572, up 1.38% after testing Fibonacci resistance levels within a descending channel (blue shaded area). The move places buyers in control as institutional infrastructure integration accelerates and derivatives positioning strengthens.

Open Interest Surges 3.87% As Volume Explodes

Open interest jumped 3.87% to $428.45 million while volume exploded 33.39% to $779.84 million, confirming fresh capital entering long positions. The long/short ratio on Binance sit…

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