Cardano Price Bounces off Ascending Trendline, Traders Eye $0.2885 Target

Cardano has been quietly building strength on its 4-hour chart, riding an ascending trendline and stamping out a fresh higher high before slipping into a tighter, more cautious range.

The price is currently boxed inside a falling channel, and how it exits this squeeze could set the tone for the next big leg.

According to CoinGlass data as of August 17, 2026, Cardano's price is at $0.1771, with open interest reflecting the total value of ADA futures contracts still open in the market at $456.98M.

Traders betting on an ADA breakout have been getting caught out more than those positioned short, with long liquidations outpacing shorts over the past 12 and 24 hours.