Cardano price settled above $0.16 on Thursday with ADA trading near $0.170 after modest daily gains. The token is up 1.75% in 24 hours and is up 4% in the past week. The action comes after the broader cryptocurrency market rebounded following recent consolidations and a risk-off sell-off.
Cryptocurrency market recovery boosts ADA above key support level
The total market capitalization of cryptocurrencies rose 1.26% to 2.17 trillion as buyers returned to the major assets. Analysts attributed the rebound to new institutional buying of Bitcoin and improving optimism about the next Cardano network upgrades.
Bitcoin price went up $63,000 in short-term resistance test amid renewed geopolitical pressures. Ether also rebounded to around $1,750, and bulls were eyeing a potential bullish turn to $1,800. XRP price was in a narrow range around $1.03.
The market is cautious due to the continuing tension between the United States and Iran. CNN reported new attacks from both sides, which contributed to pressure on global risk assets. This context led to traders holding onto support, resistance, and the long-term breakout trend for Cardano.
EMURGO exits Cardano governance role after SecondFi wallet exploit
Cardano’s founding entity EMURGO has left the Pentad management group following the SecondFi wallet exploit. The organization announced that it is now time to refund affected users.
Cardano founding entity exits governance role at Pentad following SecondFi exploit
Cardano’s 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 about 16 million people $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 noted that the user’s recovery will be prioritized in this process over its role in management. The move puts one of Cardano’s founding groups in a new light, as the ecosystem reacts to the event this week.
Cardano derivatives are showing increased open interest amid declining market activity
Cardano derivatives indicators reflected variable trading as traders reduced trading volumes while keeping their positions open. Trading volume fell by 33.48% to $392.69 million, while open interest rose by 1.16% to $411.82 million.
Options volume decreased by 92.94% to $6,590, and options open interest decreased by 0.27%. Meanwhile, the 24-hour buy/sell ratio was at 0.9459. Binance and OKX account ratios remained above 2.4 with more aggressive long positions amid less active activity in the derivatives market.
Cardano price holds $0.16 while ADA Eyes takes back $0.20
At the time of writing this report, it was ADA price It was at $0.169 on the four-hour chart. After losing momentum around $0.20, Cardano remains above the $0.160 support level.
The RSI was near 40, with weak momentum and not oversold. Meanwhile, the MACD remained marginally negative, suggesting that buyers need more convincing.
If ADA recovers $0.180, its target could then be $0.20. A break above $0.20 could open the way to $0.220 according to Cardano future predictions. However, failure to hold $0.160 may expose the ADA to $0.140.
