Cardano Price Surges After Constitutional Committee Vote Clears Governance Hurdle

Cardano's price rebounded as ADA secured four seats on its constitutional committee, clearing a governance hurdle. The vote passed September 1, and this development has bolstered ADA's recovery.

The short positions were absorbed by $865,420 of the $1.18 million liquidated over 24 hours, while open interest rose nearly 5%. More traders are betting on ADA's price rising than falling.

Cardano must close above both $0.2132 and its 20-day EMA at $0.2006 to extend its recovery. If it fails at the $0.2132 resistance, a pullback toward $0.1955 or $0.1925 is possible.