Cardano (ADA) remained under pressure on Monday, trading below the $0.260 level after declining more than 10% last week. The bearish performance comes as weakening on-chain activity and mixed derivatives data reinforced a cautious outlook for the cryptocurrency. Bearish derivatives positioning limits ADA recovery Derivatives data from CoinGlass showed mixed sentiment among Cardano traders, keeping recovery expectations subdued. Cardano’s long-to-short ratio dropped to 0.54 on Monday, marking its lowest level in more than a month. A ratio below 1 indicates bearish positioning dominates the market, with traders increasingly betting on further downside for ADA. However, funding rate data offered a slightly more constructive signal. CoinGlass’ Open Interest-weighted funding rate for Cardano turned positive on Sunday and reads 0.0078% on Monday.
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