Cardano (ADA) is trading at $0.344, down 1.5% in 24 hours and 16% over the past 14 days. A head-and-shoulders pattern on the one-day chart indicates a possible downtrend, with the risk of ADA dropping to $0.311 if it fails to hold above $0.344. To reverse this trend, ADA must break above $0.368.

Technical indicators are bearish, with the RSI at 44 and the MACD trending below the Signal line, signaling strong seller control. A cluster of liquidations above the current price suggests short positions dominate the market.

Wallet data shows those in profit have decreased from 34% to 16%, while those in losses have risen to 78%. However, positive sentiment and a rising long/short ratio suggest traders still expect future gains for ADA.