#BtcPriceAnalysis

The analysis of the ADA derivatives market shows a sharp decline in open interest for futures in recent days. This reflects a decrease in trading activity. According to Coinglass, the open interest is $1.50 billion, which is 23% lower compared to September 14.
A decrease in open interest indicates the closing of positions or a reduction in risks by traders, which signifies a weakening of activity. This complicates the coin's ability to quickly recover and reach $1 in the near term.
In addition, the daily chart for ADA/USD shows a decline in the Choppiness Index, which at the time of publication stands at 48.36. This indicator helps traders understand whether the market is in a consolidation phase or trending. A decrease in the index indicates that the market is exiting consolidation and moving towards a more defined movement.
Given that the price trend of ADA is already moving downward, the decline in the index confirms the strengthening of the bearish momentum, which threatens new lows for the price of ADA.
Given the decrease in activity in the futures market and the decline of the Choppiness index, indicating a strengthening downward trend, the target for ADA at $1 looks increasingly unlikely. If the sell-offs continue, the altcoin risks falling to $0.763.
However, if buying activity resumes and sentiment improves, ADA will have a chance to recover its positions and attempt to break through the resistance level at $0.84.
If this happens, the breakout will pave the way to $0.92, bringing the price of Cardano closer to $1.