Cardano Open Interest Rockets 6% as ADA Price Eyes $0.5 Retest

Key Insights:

• Cardano price eyes rally as ADA Open Interest soars 6%, indicating investors’ renewed confidence in the asset.
• Analyst eyes $3 as the next ADA price target based on historical patterns using Jesse Livermore’s Accumulation Cylinder.
• Crypto trader celebrates Cardano for finally doing privacy the right way.

Cardano (ADA) price is seeing a fresh wave of optimism among traders. Over the past 24 hours,  Cardano open interest (OI) surged 6% as the ADA price retested the $0.5 level.

Analysts raise optimistic price outlook for ADA, potentially reaching $3.

Cardano Price Eyes Rally as Open Interest Hits 1.7B ADA

According to CoinGlass data, Cardano bulls have pumped over 1.7 billion ADA into the asset’s derivatives market in the last 24 hours. The data shows that the ADA open interest volume has surged by 6% during this period.

In fiat terms, the 1.7 billion ADA translates to $707.5 million committed in open interest. In the crypto market, a spike suggests heightened confidence amid expectations of an ADA price rebound.

However, the Cardano price continues to slide as sellers defend every pullback. Within the past 24 hours, the ADA price has dropped slightly by 0.2% to trade at $0.42.

Notwithstanding, ADA is eyeing a retest at $0.5, fueled by renewed interest across the Cardano community. The rise in open interest indicates that the market will resume activity, potentially leading to a recovery in ADA price.

On November 3, 2025, the total ADA OI increased by 5% across top exchanges to $622.69. This surge led analysts to forecast that ADA could rally towards $0.65 at the time.

As long as the bulls prevail in the current cycle, the extra supply of liquidity could support additional gains.

However, there can be a massive price fall if sentiments change. This is because of the considerable number of open positions that may be forced to close off quickly by traders.

Analyst Eye $3 as the Next Cardano Price Target

Analyzing the current Cardano price, crypto analyst Wolf of Crypto on X said the asset is following Jesse Livermore’s Accumulation Cylinder.

The analyst posted a TradingView ADA chart that overlays a historical diagram of Jesse Livermore’s Accumulation Cylinder.

The analyst interprets the recent price drop as the final shakeout (point 7). This sets up an explosive markup phase (points 8–12), projecting a rally toward $3 by 2026, mirroring historical bull cycles.

The quick reversal and strong bounce off recent lows is seen as confirmation that accumulation is over and the markup phase is starting.

Wolf of Crypto noted that Cardano price is now entering the explosive markup phase and should see a massive vertical rally. The analyst said most people will miss it because they panicked at the exact bottom.

Is ADA Doing Privacy Right?

Crypto trader Hardy on X gave a shoutout to Cardano for finally tackling blockchain privacy through the Midnight Protocol.

He explained in an X post that Midnight is Cardano’s purpose-built privacy partner chain. The blockchain is powered by advanced zero-knowledge cryptography to deliver compliant, scalable confidentiality on-chain.

Hardy also shared a short video interview where Cardano founder Charles Hoskinson shared details about the Midnight Roadmap.

Hoskinson explained that the first generation of privacy systems included Zerocoin, Zcash, and Monero. He, however, highlighted a challenge that these systems are not programmable.

Recognizing the need to have private smart contracts, Cardano introduced the Midnight privacy network this year.

Midnight went live on testnet in October 2024, aiming to merge privacy with regulatory compliance on the Cardano network.

It is focused on organizations and developers that are interested in upholding the blockchain’s transparency.

While Midnight awaits its mainnet launch, Hoskinson recently promoted the network to Coinbase CEO Brian Armstrong.

This comes after Midnight partnered with Blockdaemon to simplify privacy-smart contract deployment for enterprises.