Cardano surged 10% to trade around $0.26, hitting a five-month high of $0.27, fueled by a 297% increase in spot trading volume. $2.1 million in short positions were liquidated, yet the long/short ratio remained bearish at 0.71 with open interest rising 18% to $635 million. Spot netflows stayed positive for two consecutive days at roughly $1.34 million, indicating potential selling pressure ahead. ADA could target $0.28 and $0.30 if buyers hold $0.24 support and absorb the incoming spot selling.
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