The recent stagnant price movement of Cardano (ADA) has caused an increase in demand for short positions among futures traders, indicating a bearish sentiment towards the coin. The Long/Short Ratio for ADA is at a monthly low of 0.82, suggesting a high demand for short positions. The Weighted Sentiment for ADA remains negative, further reinforcing the bearish outlook. ADA whales have also reduced their trading activity, with a significant drop in netflow. ADA is currently trading at $0.98, close to its support level of $0.90. If bearish pressure continues, the price may test this support and potentially drop to $0.80. However, if buying activity picks up, ADA's price could stabilize above $1.



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