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Cardano slides near $0.20 as bearish derivatives weigh on ADA

Key takeaways Cardano trades near $0.201 on Monday, extending its decline after three consecutive losing weeks. Funding has turned negative at -0.0032%, reinforcing the bearish derivatives picture. ADA faces initial resistance at $0.

Key points

  • Cardano traded near $0.201 on Monday after three consecutive losing weeks, with its decline exceeding 20% since early October.
  • CoinGlass data shows a long-to-short ratio of 0.92 and funding at -0.0032%, while CryptoQuant flags sell-side dominance and futures overheating.
  • ADA sits below the 50-, 100- and 200-day EMAs, with RSI at 33, negative MACD, and initial resistance at $0.213.

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Original reporting

Hassan Maishera, CoinJournal

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