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Cardano Price Rally Pauses Amid Profit-Taking

Guavy AI Editorial Team
Instruments
ADA
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Cardano's price rally has paused due to profit-taking, trading at $0.220 on Monday after a massive 29% gain last week.

The crypto market is still cheering the US Treasury's decision to double its debt buyback operations, which supported Cardano's surge.

However, large-wallet holders are reducing their exposure, as indicated by Santiment's Supply Distribution data, suggesting profit-taking and near-term downside risks for Cardano.

The CoinGlass' long-to-short ratio for ADA reads 0.72 on Monday, reflecting bearish sentiment in the market.

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