Cardano loses $0.20 support as network activity drops 64%, target $0.1647
- —ADA fell 5% and broke below EMA50 ($0.1994), EMA100 ($0.2002) and Fib 50% ($0.1999)
- —Cardano network transactions: 14,536 versus 40,063 on August 21, a 64% decline
- —ADA futures open interest fell 6% to $411.5 million, liquidations $2.67 million (96% longs)
- —Next downside target is $0.1647, 15% below the current price; RSI at 43
Why it matters: Weak on-chain activity and fading derivatives interest heighten the risk of a further ADA decline toward $0.1647.
Source: Invezz