Cardano’s price breakout could trigger the next ADA squeeze or trap leveraged bulls

Key Summary

Cardano's price has surged 42% since Sept. 16, driven by increased social volume and transactions, and open interest has jumped 25% to $304 million. The recent price breakout has raised questions about the sustainability of the rally, with traders adding new bets on ADA's price gain. If the price holds above $0.28, it could confirm conviction and validate new longs, but if it stalls or reverses, a larger pool of leveraged longs could be exposed to liquidation.