#Cardano 's Total Value Locked (TVL) stands at around $274 million, which, though lower than some other blockchains, reflects a more genuine position as other chains often inflate their TVLs through questionable tactics. Despite a bullish outlook in mid-July, Cardano's price has since dropped below the critical $0.42 level and has struggled to break above it, confirming a bearish trend. While there’s potential for a short-term bounce due to a short squeeze, the overall direction remains downward, with key support levels at $0.385, $0.37, and ultimately $0.35. The strong community backing Cardano remains a key factor for its long-term prospects, but in the short term, caution is warranted.

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