Cardano Stuck in Descending Trend, Network Activity Weakened

Cardano's price has been stuck in a descending trend and is currently trading around $0.175, failing to reclaim the $0.20 level. The immediate support for ADA is at $0.165, while the Ichimoku resistance sits between $0.181-$0.182. A clean breakout above $0.20 would be necessary to target higher levels of $0.22-$0.26 and $0.24-$0.26 volume resistance.

The network activity has weakened in recent months, with TVL dropping from around $130-$140 million to $60-$65 million. Active addresses have fallen from 28,459 to 13,800, and transactions have slid to 17,400 from 26,000. This divergence between price recovery and network activity is a concern for ADA's adoption and bullish token performance.

A move above the Ichimoku resistance at $0.181-$0.182 could bring $0.20 back into focus. However, if buyers fail to defend the $0.165 support, ADA may fall towards $0.15 or even the $0.137-$0.14 support zone.