Cardano Price Plunges, Signaling Bearish Pressure – Market Activity Shows Weakness

Cardano (ADA) is facing increasing bearish pressure as its price struggles to stay above $0.52. A combination of negative funding rates and declining TVL suggest a lack of market confidence. ADA’s price has been dropping sharply this week, even testing key support levels near $0.52. 💰 This decline coincides with a downturn in Cardano’s Total Value Locked (TVL) which indicates decreased network activity. The negative funding rate signals increased short positions compared to long positions, suggesting a bearish sentiment amongst traders.