Cardano Price Hovers Near $0.165 as Bulls Struggle to Break Resistance

Cardano's price is at a critical juncture as it has been under bearish pressure in recent sessions.

Bulls have managed to defend key support levels, but repeated failures to reclaim higher resistance have left traders waiting for a clear directional move.

The technical indicators are sending mixed signals, and derivatives traders remain cautious, with the long-to-short ratio standing at 0.82, indicating more bearish positions than bullish ones.

The Relative Strength Index (RSI) is hovering around 45, and the Moving Average Convergence Divergence (MACD) has shown early signs of stabilization but not yet delivered a decisive bullish crossover.