Cardano price held above $0.16 on Thursday as ADA traded near $0.170 after a modest daily gain. The token increased 1.75% in 24 hours and gained 4% in the last week. The action comes after a broader crypto market rebounded after the recent consolidation and heavy risk-off selling.
Crypto Market Rebound Strengthens ADA Above Key Support
The overall crypto market value increased by 1.26% to reach 2.17 trillion as buyers were back to key assets. Analysts attributed the recovery to new institutional buying of Bitcoin and improved optimism about the next Cardano network upgrades.
Bitcoin price surged above $63,000 in a short-term resistance test amidst renewed geopolitical stress. Ether also rebounded to around $1,750, and bulls were looking at a potential upward shift to $1,800. XRP price was in a narrow range around $1.03.
The market has been cautious since the United States and Iran are still in tension. CNN reported new assaults on either side, which contributed to the pressure on global risk assets. This context had traders stuck on support, resistance, and the long-term breakout trend of Cardano.
EMURGO Exits Cardano Governance Role After SecondFi Wallet Exploit
Cardano founding entity EMURGO has left the Pentad governance group after the SecondFi wallet exploit. The organization announced that it is now high time to recover affected user funds.
Cardano Founding Entity Exits Pentad Governance Role After SecondFi Exploit
Cardano founding entity EMURGO is stepping away from the Pentad governance group to focus on recovering funds lost in the SecondFi wallet exploit.
The attack drained around 16 million $ADA from 374… pic.twitter.com/49ei8deWSm
— BSCN (@BSCNews) July 9, 2026
According to the report, the attack drained about 16 million ADA from 374 wallets. EMURGO indicated that user recovery will be prioritized in this process over its role in governance. The relocation puts one of the founding groups at Cardano in a new light, as the ecosystem reacts to the event this week.
Cardano Derivatives Show Rising Open Interest Amid Lower Market Activity
Cardano derivatives indicators reflected variable trading with traders lowering volumes but holding positions open. Trading volume fell 33.48% to $392.69 million, while open interest rose 1.16% to $411.82 million.
Options volume dropped 92.94% to $6,590, and options open interest slipped 0.27%. In the meantime, the long-short ratio was 24 hours at 0.9459. Account ratios of Binance and OKX remained over 2.4 with more robust long positioning amid less vigorous activity in the derivatives market.
Cardano Price Holds $0.16 as ADA Eyes Reclaim of $0.20
At the time of writing, the ADA price was at $0.169 on the four hour chart. After losing momentum around $0.20, Cardano was still over the support of $0.160.
The RSI was around 40, with weak momentum and not oversold. In the meantime, the MACD remained marginally negative, indicating that buyers require more convincing.
Should ADA reclaim $0.180, it may next have a target of $0.20. Breaking above $0.20 can open the space to $0.220 according to the future Cardano outlook. However, failure to hold $0.160 could expose ADA to $0.140.
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