Cardano's recent price drop has sparked concerns among investors. The cryptocurrency fell below its 20-day exponential moving average (EMA), a bearish signal that indicates a decline in buying pressure and a surge in sell-offs. As a result, ADA's value has decreased by almost 10%, with over 60% of investors currently holding the coin at a loss.

Despite this, profitable sales transactions have increased, with a daily ratio of transaction volume in profit to loss standing at 1.01. However, a significant number of investors remain "out of the money," holding ADA at a price lower than their cost basis. Additionally, ADA's Futures open interest has declined steadily over the past two weeks, suggesting a surge in negative bias towards the asset.

This price drop has left many wondering what's next for Cardano. Will the coin continue to decline, or is this a sign of a potential rally? Only time will tell. One thing is certain, however: investors must exercise caution and do their own research before making any decisions.

Note: The article is for informational purposes only and should not be considered investment advice. Trading, buying, or selling cryptocurrencies is a high-risk investment, and every reader is advised to do their own research before making any decisions.