Cardano extended its September rally as ADA surged toward $0.26, bolstered by a decisive move above key technical resistance and fresh integration with a payment standard that could expand real-world use cases for the network.
Network gains momentum as ADA rises
On September 23, ADA traded near $0.25, up approximately 2% over 24 hours and 28% in a week, according to CoinGecko. Its trading volume reached around $879 million during the period, reflecting heightened activity and investor interest.
The rally materialized after Cardano adopted the x402 payment standard developed by Coinbase, enabling developers to integrate applications and AI agents capable of paying for internet services using ADA and other Cardano-based tokens. The Cardano Foundation officially confirmed inclusion in the x402 software development kit on September 21.
x402 enables payment instructions to be embedded directly within internet requests, facilitating streamlined and flexible payment solutions for developers and users.
Cardano has already completed an end-to-end transaction using x402 in its preproduction network. However, large-scale commercial payments on mainnet have yet to be demonstrated.
Network metrics also highlighted significant growth. DeFiLlama reported that active Cardano addresses jumped from roughly 14,000 to over 22,000 in a single day, an increase of about 60%. Data from CardanoScope showed 33,919 transactions on September 21, up 71% from the weekly low, while Plutus script calls rose to 11,891.
Active addresses and transaction volume increased sharply, with CardanoScope recording a weekly high of 16,388 active addresses and 33,919 transactions as on-chain engagement intensified alongside ADA’s price gains.
Growing activity typically signals improving sentiment on the network, potentially bolstering demand for ADA if elevated usage persists.
Derivatives and broader market support
Stronger momentum in the broader crypto market provided additional lift. Bitcoin climbed 7.7% to $87,354, while major altcoins rallied as renewed demand spread across digital assets.
Derivatives activity contributed to ADA’s surge. Futures open interest reached $578 million before pushing above $606 million, indicating increased leveraged positions. Short traders accounted for more than 80% of ADA liquidations, creating buying pressure as bearish bets were forced to unwind.
| Metric | Value | Change/Reference |
|---|---|---|
| ADA Price (Sept. 23) | $0.25 | +28% in 7 days |
| Trading Volume | $879 million | 24-hour |
| Active Addresses | 22,000+ | +60% daily |
| Transactions (Sept. 21) | 33,919 | +71% from weekly low |
| Futures Open Interest | $606 million | All-time high |
| Short Liquidations | $2.49 million | 24-hour period ($3.28 million total) |
Coinglass reported ongoing growth in open interest, underscoring that traders continued to increase exposure as ADA climbed. Short liquidations remained the dominant factor across derivatives markets.
Technical outlook: $0.30 in sight?
ADA’s daily price advanced to around $0.257 after moving past the $0.24 resistance zone. The rally occurred alongside increased volume, and ADA now trades above its 20, 50, 100, and 200-day exponential moving averages (EMAs). These EMAs currently stand at $0.2218, $0.2083, $0.2051, and $0.2393 respectively.
Cardano’s breakout above the 200-day EMA is especially notable given months of underperformance below this level. Sustaining price above $0.239 to $0.24 would confirm the trend reversal and maintain bullish momentum.
Fibonacci extensions from the recent move show resistance at $0.2594 and a further target near $0.3021, meaning $0.30 could be achievable if momentum holds and ADA clears intermediate resistance at $0.27 to $0.29.
On the 4-hour chart, the Directional Movement Index readings indicate steep bullish dominance, with +DI at 31.71 and −DI at just 3.54. The ADX, at 59.02, shows the latest move has developed much stronger momentum compared to earlier months.
If ADA fails to hold above $0.2594, support lies first at $0.24 and then at the 20-day EMA near $0.2218, followed by the 50 and 100-day EMAs in the $0.20 range. To maintain upside potential, price must stay above these thresholds, while a sustained breakout beyond $0.2594 points to a possible climb toward $0.3021.
Mini dictionary: x402, developed by Coinbase, is an open standard for integrating programmable payments directly into internet requests, allowing blockchain-based transactions to be embedded in web applications for automated and AI-driven payments.
