Cardano consolidates below $0.26 after weekly gain

Cardano’s ADA token gained about 11% over the week through September 28, then consolidated below resistance near $0.26 as market indicators offered mixed signals about its next move. Reports placed ADA at different levels that day, from about $0.245 to $0.2537, and did not reconcile the difference. The token had repeatedly been rejected near $0.26, an area that market analyses identified as resistance. One report said ADA briefly reached about $0.26 on September 23 before retreating below $0.24 within 24 hours. Another said a daily close near $0.2588 on September 25 edged above a previous swing high near $0.2584, while still leaving the $0.26 area as a significant barrier. Derivatives measures cited from CoinGlass pointed in different directions. The reported long-to-short ratio was below 1 on September 28, a reading generally associated with more short than long positioning. The same reports said the funding rate was positive, indicating that traders holding long positions were paying those holding shorts. The figures suggest contrasting positions among derivatives traders, but do not establish which direction the price will take.