Cardano Price Faces Resistance as FOMC Decision Looms

Cardano's ADA price has been struggling to recover, pinned below major moving averages and flashing bearish derivatives signals. Analysts are divided on whether an upcoming FOMC decision will act as a relief valve for beaten ADA holders or simply sell the news.

The technical and derivatives picture is unambiguously bearish, with the long-to-short ratio at 0.82, near its lowest level in over a month. The funding rates have also turned negative, indicating that shorts are paying longs, a structural signal that the market is tilted toward a price decline.

According to technical analysis by Manish Chhetri, the Cardano price faces a layered wall of resistance overhead, with key levels at $0.175 and $0.200. The RSI sits at approximately 47, suggesting only modest recovery attempts within a broader downtrend.