Cardano’s native token ADA continues to face selling pressure amid broader market downturns. Technical indicators suggest further declines may be forthcoming.
Derivatives Market Shows Rising Bearish Sentiment
Cardano’s futures market signals heightened bearish sentiment as funding rates drop below zero, showing short positions are dominant. Traders anticipate further price declines.
On-Chain Indicators Signal Limited Accumulation
The Chaikin Money Flow (CMF) for ADA remains below zero, indicating weak buying interest. This supports the current ADA price action, showing ongoing selling pressure.
Momentum Indicators Point to Ongoing Weakness
The RSI and MACD for ADA indicate weak momentum, suggesting further declines below $0.65. RSI remains below the neutral 50 mark, indicating a bearish trend.
Overall market dynamics and technical indicators continue to exert pressure on ADA's price, with further declines expected without signs of a potential reversal.
