🟣Cardano (ADA) has faced a sharp decline, losing 37% from its recent high and currently trading at $0.71. Technical indicators suggest a potential continuation of the downtrend, as a “death cross” pattern—historically signaling further declines—has begun to form on the charts.
🟣On-chain metrics also indicate weakening momentum. The MVRV Long/Short Difference is decreasing, suggesting that long-term holders may be taking profits. If ADA fails to hold above $0.70, the price could drop to $0.62. However, a breakout above $0.77 would invalidate the bearish scenario.