Cardano Price Tests $0.175 as Network Activity Weighs

Cardano's price has been stuck in a prolonged descending trend and is currently hovering around $0.175, following its failure to break through the $0.2 resistance.

The network activity on Cardano has weakened significantly in recent months, with TVL falling from $130-$140 million to around $60-$65 million in August, according to DeFiLlama charts.

This divergence between ADA's price recovery and network activity raises concerns about the strength of the current bullish momentum.

A break above the Ichimoku resistance at $0.181-$0.182 could bring $0.20 back into focus, but a move below $0.165 would weaken the current recovery structure and send ADA toward $0.15 or even $0.137-$0.14 support zone.