📉 ADA trades at $0.584 after two days of gains, but a bearish inverse cup-and-handle pattern, combined with a death cross, warns of a potential 46% drop to $0.179.
📊 The daily chart shows ADA peaked at $0.863 in May. Since then, it’s formed a rounded top and now consolidates below $0.519 support. If the breakdown confirms, the technical target lands at $0.179. A move above $0.703 (200-day EMA) would invalidate this setup.
📉 Fundamentals aren’t helping. Daily active users have plunged to 20K, down from 54K. Transactions dropped to 619K, the lowest in over a year — far behind Solana’s 2B in the last 30 days.
💸 Chain fees also crashed to just $146K/month, compared to $978K in Dec and $26M on Solana. Stablecoin supply is a mere $31M, while Uniswap’s new chain already holds $327M.
📉 To add pressure, futures open interest has dropped by $678M, a major sign of fading market interest in ADA.
📌 In short: Cardano faces both bearish technicals and weakening on-chain metrics — a dangerous combo for the bulls.
⚠️ Disclaimer:
This post is for informational purposes only and does not constitute financial advice or endorsement.
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