Cardano price today trades near $0.2601, down 0.95% after testing the $0.25 support zone. The move places buyers at a critical level as founder Charles Hoskinson publicly opposes the Digital Asset Market Clarity Act, creating regulatory uncertainty for the broader crypto market.
The daily chart shows Cardano testing the $0.25 to $0.26 support zone (orange shaded area) that has acted as a floor during previous corrections. Price is trading below all four major EMAs, with the 20-day at $0.2773, 50-day at $0.3055, 100-day at $0.3676, and 200-day at $0.4698 forming a descending resistance ladder.
The Supertrend at $0.3099 sits well above current price, confirming bearish momentum on the daily timeframe. A descending channel (red shaded area) has guided price lower since the September 2024 highs near $0.80.
Key levels:
Open interest declined 4.89% to $426.67 million while volume surged 13.30% to $1.03 billion. The combination suggests traders are repositioning rather than capitulating, with activity levels remaining elevated despite the decline in open positions.
The long/short ratio on Binance sits at 1.92 for accounts and 2.12 for top traders, showing leverage remains tilted toward longs. Total liquidations hit $178.58 million, with longs accounting for $166.89 million, clearing overleveraged bullish positions.
Options volume collapsed 92.94% to $6.59 million while options OI declined 0.27% to $374.92 million, reflecting reduced hedging activity as traders await regulatory clarity.
Cardano founder Charles Hoskinson publicly opposed the Digital Asset Market Clarity Act on March 3, disputing Ripple CEO Brad Garlinghouse’s stance that a bad bill is better than no bill.
Hoskinson’s main concern: the bill classifies all new digital assets as securities by default, requiring projects to prove they’ve achieved sufficient decentralization to graduate to commodity status. While legacy projects like Cardano, XRP, and Ethereum would likely be grandfathered in, every new blockchain faces an uphill battle.
He outlined four SEC attack vectors through rulemaking that could trap projects as securities permanently, including delays mirroring New York’s BitLicense, weaponizing common control definitions to target open-source collaboration, imposing unfulfillable evidence standards for pseudonymous networks, and creating value attribution tests even Bitcoin would fail.
The bill strips developer protections removed through 137 amendments and gives the SEC full control with no independent appeals process.
Hoskinson warned the bill forces new projects to blacklist the U.S. and grow offshore for five to ten years before entering domestic markets. DeFi protocols like Uniswap and prediction markets receive no regulatory clarity under the current framework.
The Senate holdup centers on yield-bearing stablecoin debates rather than developer protections or SEC-CFTC jurisdiction. Hoskinson argued that rushing a flawed bill makes no sense if it can be amended later, noting the framework benefits established players while stifling innovation for new projects.
The next move depends on whether Cardano can hold the $0.25 to $0.26 support zone and whether regulatory clarity emerges from the HR 3633 debate.
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