Cardano Price Struggles at $0.175 Amid Weakened Network Activity

Cardano's price has been stuck in a prolonged descending trend and is currently hovering around $0.175 after losing the $0.2 resistance.

The network activity has weakened in recent months, with TVL falling from roughly $130, $140 million to around $60, $65 million in August.

Active addresses have dropped significantly, from 28,459 to 13,800, and transactions have fallen from 26,000 to 17,400, indicating a slowdown in network participation.

The Ichimoku Cloud puts immediate resistance at $0.181, $0.182, with the Tenkan-sen at $0.181 and Kijun-sen at $0.182.