Cardano (ADA) is down by 1.5% on Wednesday after failing to overcome resistance at the 50-day Exponential Moving Average (EMA) near $0.1770. The rejection erased the momentum from two consecutive recovery sessions earlier in the week, leaving the cryptocurrency vulnerable to additional downside. Weakening activity in the derivatives market and subdued technical momentum suggest traders remain cautious, with ADA struggling to establish a sustained bullish trend. Cardano futures activity signals declining retail interest Retail participation in the Cardano derivatives market has cooled considerably over the past 24 hours. According to CoinGlass, ADA futures Open Interest (OI) fell 4.7% to $411 million, indicating a decline in outstanding leveraged positions.
Source: Read the original article
