📢🚨🔥Cardano Price Forecast: #ADA 🚨🔥
♦️♦️Rejection at the 50-day exponential moving average strengthens the downward grip
✅Cardano dropped more than %3 on Thursday, expanding the previous day's decline of about %2 from the 50-day exponential moving average (EMA).
✅Derivatives data indicates a bearish bias as funding rates and open interest decline.
✅Technical outlook for Cardano turns bearish with weakening momentum.
✅Cardano (ADA) fell more than %3 as of Thursday's report, extending the second rejection from the 50-day exponential moving average (EMA) this month. The bearish sentiment among retail investors is driving down open interest and funding rates. Technically, Cardano faces risks of further decline, with the support level at $0.3826 under threat as upward momentum weakens.
