Cardano (ADA) has been affected by the recent market downturn, with its price dropping to $0.37, marking an 18% decrease in the last month. Large holders of ADA have reduced their trading activity due to this price dip, leading to a decline in significant transactions. The daily count of ADA transactions worth $1 million to $10 million has fallen by 33%, while transactions exceeding $10 million have decreased by 24% in the past 30 days. This decrease in large transaction volume indicates a lack of interest from investors, possibly influenced by a shift in market sentiment from positive to negative. ADA's weighted sentiment currently stands at -0.58, suggesting a negative outlook. Technical indicators like the Relative Strength Index (RSI) and Directional Movement Index (DMI) further support the bearish trend, indicating potential further price drops to $0.35 unless sentiment improves to push the value up to $0.41. Read more AI-generated news on: https://app.chaingpt.org/news