Cardano (ADA) traded in a narrow range on Sunday amid a sharp rise in futures activity.
Notably, the cryptocurrency has gained nearly 21% over the past week, recovering from July lows and holding most of those advances despite a modest pullback from recent highs.
Meanwhile, the sharp increase in derivatives activity has become a key focus for market participants. Popular analyst Ali Martinez said interest in Cardano is accelerating rapidly, noting that ADA futures volume surged 380% in just one week, climbing from roughly $150 million to about $650 million.
On-chain data has also pointed to growing accumulation by large investors. According to Santiment data, whale wallets added around 240 million ADA over the past several days, substantially increasing their combined holdings.
Such buying activity is often interpreted as a sign of confidence from larger market participants, particularly when it occurs alongside rising trading volumes and improving price momentum.
 
The crypto asset climbed from around $0.16 to nearly $0.19 during the recent advance, then eased slightly. Even with the consolidation, the token has remained among the stronger-performing large-cap cryptocurrencies over the past week.
Additionally, the rally has been accompanied by a notable increase in open interest, indicating that new money is entering the futures market rather than existing positions simply being closed.
Short-position liquidations also increased as prices pushed higher. The squeeze forced some bearish traders to exit their positions, adding further upward pressure to ADA during the move toward the $0.20 zone.
Data from major exchanges shows that bullish positioning currently holds a slight edge over bearish bets, reflecting expectations that Cardano could attempt another leg higher if key support levels remain intact.
Currently, the $0.20 region has emerged as an important level for ADA, with a sustained move above it potentially opening the way toward higher resistance zones.
At the same time, the $0.21-$0.23 range could emerge as the next major hurdle for bulls, while a failure to hold above recent breakout levels could trigger a deeper pullback toward lower support areas.
At the time of writing, ADA was trading at $0.1978, reflecting a 1.04% loss over the past 24 hours.
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