Cardano slides near $0.20 as bearish derivatives weigh on ADA

Key takeaways Cardano trades near $0.201 on Monday, extending its decline after three consecutive losing weeks. Funding has turned negative at -0.0032%, reinforcing the bearish derivatives picture. ADA faces initial resistance at $0.213, while weak momentum leaves recovery attempts vulnerable. Cardano fell below $0.202 on Monday as pressure persisted across its derivatives, spot, and technical indicators. ADA traded around $0.201 following three consecutive weeks of losses, with its decline exceeding 20% since early October. The token remains beneath several major moving averages, suggesting buyers have yet to establish a sustained recovery. Although momentum is approaching oversold territory, the broader setup continues to favor sellers. Any near-term rebound would face several resistance levels before materially improving the outlook.

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