Cardano Price Faces Bearish Pressure with Key Support at $0.148
June 20, 2026
Cardano price is facing increased bearish sentiment as indicators show weakening trader confidence. The long/short ratio for ADA fell below 1, and futures open interest dropped to $348 million, both signaling a lack of conviction among traders. On-chain data is pointing to capitulation, with Santiment’s NPL metric indicating that investors are selling ADA at a loss.
The price of Cardano continued to decline in mid-June, dropping to $0.16 before falling by over 2% on June 18. The ADA futures long/short account ratio is approaching 0.9, suggesting more short positions than long positions in the market. Additionally, the total futures open interest for ADA has decreased to approximately $348 million, which is a multi-week low.
In the derivatives market, Cardano traders are treading cautiously, with the long/short ratio dropping to 0.96, the lowest level in over a month. A ratio below 1 indicates a bearish sentiment, with more traders betting on a price decrease. The decrease in total futures open interest also hints at lower participation and weaker conviction among traders.
On-chain metrics further confirm the bearish trend, as Santiment’s Network Realized Profit/Loss metric showed a sharp drop on June 17. This indicates that more ADA investors are realizing losses than profits, leading to panic selling or capitulation. While capitulation phases can sometimes mark near-term lows, analysts are cautious about a potential recovery given the current bearish momentum.
From a technical perspective, ADA remains in a downtrend, with the price hovering around $0.160 on the 4-hour chart. The 4-hour RSI is below 50, suggesting bearish control, and the key moving averages are not favorable. The immediate support level to watch is at $0.148, with resistance seen at $0.181, $0.202, and $0.210.
Overall, the combination of derivatives data, on-chain metrics, and technical indicators all point to a bearish outlook for Cardano price. For a potential reversal, there needs to be renewed buying interest or a shift in sentiment. The near-term trajectory of ADA will depend on whether it can hold support at $0.148 or if further declines are imminent. Bears are currently maintaining a tight grip on Cardano price, with the need for a catalyst to change the trend.
