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- Cardano (ADA) is trading below $0.168 after rejection of the 50-day EMA.
- Derivatives data provide mixed signals, with the ratio of long and short remaining when the currency has changed.
- Cardano’s big fish has earned nearly 120 million ADA since Monday.
Cardano (ADA) extended its losses on Friday, trading below $0.168 after buyers failed to overcome resistance at the 50-day Exponential Moving Average (EMA) earlier in the week.
Although some large funds continue to accumulate ADA, derivatives mixed with data and technical indicators show that the market is still uncertain about the next major cryptocurrency move.
The results show a fragmented business mind
The market created by Cardano sends conflicting signals. According to CoinGlass dataADA’s long-short ratio stood at 1.07 on Friday.
The reading above shows that more traders are targeting price gains than downside, indicating a lower bias among bearish traders.
However, other derivatives tell a different story. Cardano’s stablecoin prices entered negative territory on Thursday and remained at around -0.014 on Friday.
Non-financials show that short sellers are paying off those who hold long positions, which indicates an increase in bearish sentiment and expectations of further declines.
The difference between a bullish position and negative currency indicates uncertainty among traders.
The chain’s data shows that large investors will continue to buy despite the recent price weakness.
According to Santiment, wallets with 1 million to 10 million ADA and 10 million to 100 million ADA have received about 120 million ADA since Monday.
So far, bags with 100,000 to 1 million ADA have shown little activity.
The collection of selected major shareholders may indicate that they are confident in the long-term future of Cardano, although the purchase has not been enough to trigger a significant market change.
ADA remains below the main movers
From a technical perspective, Cardano continues to trade within the broader landscape.
ADA is still below the 50-day EMA ($0.176), 100-day EMA ($0.202), and 200-day EMA ($0.267)
Failure to retrace these levels indicates that sellers remain the long-term dominant.
Technical indicators indicate a market without clear strategies. The Relative Strength Index (RSI) is hovering around 48, indicating reasonable buying and selling without a strong trend.
Meanwhile, the Moving Average Convergence Divergence (MACD) remains above the zero line, indicating that although the occasional test continues, the bullish trend remains weak.
In addition to the technical problem, the broken line that was broken for a long time near $0.197 has now become a major resistance area.
For the bullish trend to be strong, ADA must first overcome several nearby levels, including $0.176 (50-day EMA) and $0.197 (long-term resistance).
A constant movement above these limits can make Cardano’s opinion smaller.
On the other hand, traders see:
- $0.150 – Instant horizontal support
- $0.138 – Important Fibonacci support
A break below $0.138 could signal ADA’s new low and encourage further bullish moves.
Cardano continues to face pressure to sell after failing to recover the 50-day EMA, while mixed signals indicate uncertainty among market participants.
At the moment, the ability of ADA to hold above $0.150 while retrieving the $0.173-$0.176 resistance zone can determine whether the indicator will make a strong recovery or extend its recent decline.
