$120M DeFi Allocation Sparks Uncertainty for Cardano Price
Cardano's community has approved $120 million in ADA to boost DeFi growth on the network, sparking excitement among bulls. However, a closer look at the chart reveals a trendline breakdown and a bearish EMA crossover that don't seem to care about the good news yet.
The bullish case requires Cardano to close above $0.18570 in the next few days, while a break below $0.18064 would confirm sellers are still in control. Market data from August 14, 2026, shows ADA trading at $0.18190, after breaking down from an ascending trendline since late July.
The chart marks a clear trendline breakdown followed by a bearish EMA crossover, where the 20 EMA slipped below the 50 EMA, and the price has since drifted into a tight range just above the $0.18064 support level.