Cardano (ADA) Price Prediction: Bulls Cluster Around $0.60 Support as Charles Hoskinson Hints at Strained Trump Relationship

Over the weekend, ADA price action has been notably resilient, holding above the critical $0.60 support level.

Cardano price is floating above the $0.62 level on Sunday April 20, down 0.7% on the daily candle. However, derivatives trading signals observed over the weekend suggest recent Trump comments from Founder Charles Hoskinson are unlikely to impact ADA price action negatively in the week ahead.

This comes as a new report from Deepcoin has assessed the overall market strength in favor of bulls at the start of the mid-week session.

Chart: Deepcoin

Highlighting the strong buying activity in the market, the Long/Short Account Ratio stands at 2:1 overall and 3:1 for Top Traders specifically. This indicates a clear preference for long positions among both retail and institutional participants.

Furthermore, the Long/Short Position Ratio is also heavily skewed towards longs, with a ratio of 8:1 overall and 7:1 for Top Traders. This suggests that traders are accumulating more leveraged long positions relative to shorts.

The accumulation of these leveraged long positions may indicate that participants are anticipating a breakout from the current trading range or are making a move in anticipation of a move higher.

The increase in Open Interest corresponds to a 1.2% downswing in Cardano spot prices on the day. This signals that bull traders are actively defending their positions to prevent a break down below the $0.60 price level.

As depicted in the graphic above, the total ADA derivatives trading volume surged by 8.62% to $716.28 million, while open interest edged up to $635.27 million up 1%.

This is a significant increase compared to the previous week, signaling that traders are engaging in the market with greater risk appetite.

On Binance, the long/short ratio sits at 2.19, while OKX shows even more aggressive positioning with a ratio of 2.62, meaning more than two longs for every short. Among top traders, that bullish tilt remains intact, with long-to-short account ratios over 2:1 and position ratios still firmly long-biased.

However, the growing appetite for leverage comes with its own risks. If the market experiences a swift downturn, leveraged positions could be liquidated rapidly, leading to a cascade of selling pressure and potentially pushing prices down further.

Cardano Technical Price Analysis Today: Bulls Eye $0.65 as $0.60 Support Holds Steady

Cardano (ADA) enters the week with its price consolidating around $0.6203, where the 4-day SMA acts as immediate resistance. The flattening yellow 4-SMA line hovering near the current price reflects indecision, while the longer-term 60-SMA, sitting significantly higher at $0.7092, reinforces the presence of a persistent macro downtrend. Still, the tight price action and low volatility suggest an imminent breakout is in play.

The BBP (Bollinger Band Percent) currently prints at -0.0088, hinting at compressed volatility and a price trading slightly below its average range — often a precursor to explosive moves. Volume remains subdued at 46.4M, but this may indicate accumulation under resistance rather than a lack of interest.

If bulls can maintain price stability above $0.60, this could build enough structural momentum to pierce the $0.65 level, a threshold that aligns with recent intra-range resistance.

In the broader market context, Bitcoin’s price forecast today leans neutral-bullish, showing range-bound strength above $83,000 in each of the last days of trading. This sets a supportive backdrop for ADA in the week ahead.

However, failure to hold that line may expose ADA to cascading liquidations, potentially sending it spiraling back toward $0.55. The week ahead will be crucial as volatility returns to the crypto majors.