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CryptoMediumUpdated×4•Originally published 25 March 2026•Updated 27 March 2026•

1 min read

Cardano ADA Shorts Hit Multi-Year High Ahead of Midnight Sidechain Launch

A golden Bitcoin coin surrounded by green energy, with red downward arrows, bar charts, and the word "SHORT". The number "70,000" is above.

Key Facts

1ADA short positions have spiked to their highest levels since June 2023.

2 months ago

Version History

10 additional sources confirmed this story

Version 42 months ago

What changed: Updated ADA price to $0.2516 and incorporated a new speculative price target of $2 from market analysts.

Version 32 months ago

What changed: Added information regarding the appearance of a technical Golden Cross and the impact of the broader Nasdaq and precious metals sell-off on ADA's price.

Version 22 months ago

What changed: ADA's price declined by 7% and breached the 20-day EMA, signaling a technical breakdown and increasing the risk of a further 20% drop.

Version 12 months ago

What changed: The story was updated to include current price levels at $0.26, the RSI momentum indicator, and specific technical support and resistance targets.

Cardano (ADA) continues to face intensified selling pressure, currently trading at the $0.2516 level as short positions remain at their highest since June 2023. The price remains below its 20-day exponential moving average (20-day EMA), influenced by a broader sell-off in Nasdaq 100 futures and precious metals. Despite the bearish sentiment, a technical 'Golden Cross' has appeared on the chart, providing a conflicting signal that could offer long-term support. Amidst this volatility, some market participants suggest that strong daily rallies could potentially drive ADA toward a speculative $2 target in the coming days. The market remains cautious ahead of the scheduled Midnight sidechain launch, with many traders still anticipating a 'sell the news' event. Consequently, the ADA/USD pair is under significant observation as it tests critical levels against volatile macroeconomic drivers.