Cardano Holds Tenuous Support Zone Amid Bearish Derivatives Signals

Cardano's price has been trading near $0.207 after falling over 8% in the previous week.

The ADA long-to-short ratio is at 0.88, indicating bearish positioning among derivatives traders.

However, the funding rate turned positive at 0.0052%, showing a mild bullish bias despite the elevated short positioning.

To avoid a decline toward $0.195, $0.173, or $0.150, ADA must hold the $0.199-to-$0.200 support zone.