The Cardano (ADA) token is currently facing bearish pressure and has broken below critical support levels, including the 0.786 Fibonacci retracement level and the 100-day Simple Moving Average. This suggests the potential for further downside as sellers dominate the market. Key support is now at $0.762, and a breakdown below this level could lead to a 24% decline from current levels. The breakdown below the symmetrical triangle's lower boundary reinforces the bearish momentum. Short-sellers dominate the market, with significant liquidation levels, indicating a strong bearish sentiment among traders. The ADA token is currently trading at $0.804, reflecting a decline of 13.59% in the past 24 hours.



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