ADA Token Sees 4.98% Price Dip Amid Death Cross, But Bullish Signals and DeFi Upgrades Emerge

Cardano (ADAUSDT) experienced a 4.98% price decline over the past 24 hours, with the current price at 0.3856 USDT on Binance, opening at 0.4058 USDT. The recent price drop is attributed to market uncertainty following the failed breakout attempt above the descending wedge pattern and the occurrence of a "Death Cross" on December 12, which typically signals potential for further downside. Despite this, on-chain and derivatives data indicate increasing bullish sentiment, highlighted by a long/short ratio of 1.19 and fading bearish momentum as shown by an upward-trending RSI. Cardano also saw increased trading volume between $326.18 million and $794.99 million, reflecting active investor interest. The project’s integration of Pyth Network’s low latency oracle into its governance frameworks aims to strengthen its DeFi infrastructure, which may positively influence long-term sentiment even as short-term volatility persists. Cardano’s market capitalization is currently estimated between $13.75 billion and $14.51 billion, with a circulating supply of approximately 35.91 billion ADA.