Cardano Price Prediction as Binance Smart Money Sentiment Flips Extremely Bearish Near Key Resistance

Cardano (ADA) price is up today as the broader crypto market recovers on optimism that CLARITY Act could pass after Senate Republicans released a revised text of the bill.

Despite these gains, data from CoinGlass shows that smart money is not bullish on Cardano as the price nears resistance at the 200-day SMA.

ADA’s value is up by 1.04% today, to trade at $0.208 at the time of writing, while trading volumes had jumped by 70% to $348 million.

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Binance Smart Money Flips Bearish on Cardano

Data from CoinGlass shows that the sentiment by smart money on Cardano on both the Binance and the Bybit exchanges is “extremely bearish.” However, on OKX, this smart money sentiment remained “extremely bullish.”

The long/short reading also shows that bears are in charge, with short volumes standing at $213 million at the time of writing, while the long volumes stand at $201 million.

CoinGlass further shows that the ratio of long accounts to short accounts has dropped from 1.12 on September 8 to 0.86 as more short sellers enter the market to bet that Cardano price will drop.

The short bets come ahead of the September 15-16 FOMC meeting, where the Fed will likely hike rates and potentially weaken the demand for risk assets.

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Active Addresses Fall to Near One-Month Low

The number of active addresses on Cardano has dropped to 11,746. This is the lowest reading for active addresses since August 17.

The drop comes despite ongoing upgrades on the Cardano network. A previous report by CoinGape noted that Cardano completed Hydra 2.4.1 upgrade seeking to improve the security of the network.

Cardano will also roll out the Leios upgrade in November 2026 that will increase the speed of the network by up to 65 times.

Still, the upgrades have not driven the usage of the network, with the DeFi TVL also dropping to $55.37 million at the time of writing.

Cardano Price Tests Crucial 200-day SMA Resistance

Cardano price eyes the resistance at the 200-day SMA of $0.21. ADA has not closed above this resistance since September 8 due to a weak momentum in the broader market after Bitcoin price pulled back to $77,000.

ADA price was also testing the support at the lower boundary of a symmetrical triangle pattern at the time of writing.

If Cardano price closes below this support, it could drop to the 50-day SMA of $0.19. However, if it defends this support and moves above the resistance at the 200-day EMA of $0.21, the price could reach $0.22.

The OBV line that is rising supports a bullish future Cardano price outlook.

It shows that the buying pressure is outpacing the selling pressure on the daily timeframe, and if this trend holds, ADA price could sustain an uptrend.