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Cardano Price Slides as Bearish Metrics Weigh on ADA

Guavy AI Editorial Team
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ADA
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Cardano's price has been under pressure lately, trading near key support around $0.191 on Monday after a loss of over 15% last week.

The bearish sentiment in the market is reflected in derivatives metrics, with CoinGlass' long-to-short ratio for ADA reading 0.92 on Monday, nearing its lowest level over a month.

This ratio indicates more traders are betting on Cardano's price to fall, and the funding rates have also turned negative, with CoinGlass' OI-Weighted Funding Rate data for Cardano flipping negative at -0.0001% on Monday.

The current market conditions are not favorable for risky assets like Cardano due to dampened risk appetite amid fresh tensions in the Middle East.

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Disclaimer: Guavy is a data and market intelligence provider, not an investment adviser. The information, signals, and market analysis provided by the Guavy API and related services are for informational purposes only and are not intended as financial advice, investment recommendations, or an endorsement of any particular trading strategy. Trading in volatile markets, including cryptocurrency, carries significant risk and may not be suitable for all investors. Past performance is not indicative of future results. Users should consult with a qualified financial professional before making any investment decisions. Guavy makes no guarantee of trading profits or financial returns.

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