Cardano Price Tumbles Below $0.17 Amid Bearish Signals

Cardano's price has fallen below $0.17 as bearish signals mount, according to analyst Ali Martinez.

The decline comes after Cardano whale wallets holding 1 million to 10 million ADA decreased from 2,370 to 2,340 since the start of August.

This is part of a three-signal bearish setup identified by Martinez, who linked the falling wallet count to possible profit-taking after the recent price advance.

The Cardano MVRV ratio has also weakened, forming a death cross with its seven-day simple moving average, indicating softer momentum after a strong price move.