• ADA’s struggle below key Fibonacci levels highlights persistent market resistance zones.
• Rising open interest above $600M reflects sustained trader speculation and confidence.
• Continuous ADA exchange outflows suggest strong long-term accumulation and staking intent.

Cardano (ADA) continues to face selling pressure after failing to hold above the 0.5 Fibonacci retracement level near $0.6579. The price recently slipped to $0.6427, marking a mild decline of 1.27% over the last session. This move reflects waning momentum following ADA’s earlier rebound from the $0.60 region. Consequently, traders remain cautious as ADA struggles to build enough strength for a sustained breakout.

Key Levels Suggest Persistent Resistance

ADA’s structure remains technically confined between key Fibonacci levels. The 0.5 retracement leve…

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