$$BTC #Binance This is no longer news: the cryptocurrency market experienced a positive resurgence in May. This has driven many altcoins to new highs. Over the past 30 days, the global cryptocurrency market capitalization has jumped 17%.

However, as June dawns, some cryptocurrencies are poised to decline. Assets such as Cardano (ADA), Bitcoin Cash (BCH), Axie Infinity (AXS) and The Sandbox (SAND) have thus experienced a growth in bearish sentiments. As a result, this exposes them to risks of short-term losses.

Cardano (ADA) bears in a strong position

At the time of writing, Cardano is one of the cryptocurrencies currently under threat. The asset is trading at $0.44 after its price peaked at $0.50 on May 21, before falling 12% thereafter.

Its Awesome Oscillator (AO) confirmed a trend in ADA token distribution. Indeed, because the indicator returned red histogram bars. This indicator measures Market Momentum and identifies an asset's current trend and potential price reversal points.

When an asset's AO shows red bars, its Short-Term Momentum is falling faster than its Long-Term Momentum. Red bars generally indicate an increase in selling pressure and suggest a future drop in prices. As a reminder, the ADA AO has only returned red bars since April 1. This suggests that the bearish bias has dominated the price of this asset for more than 60 days.

Read more: How to buy Cardano (ADA) and everything you need to know

Cardano analysis. Source: TradingView

If selling pressure continues to intensify, ADA price could fall to $0.40. The last time the asset traded at a similar price was in December 2023.

The well-hidden Bitcoin Cash (BCH) bulls

The price of Bitcoin Cash (BCH) has collapsed by more than 10% in the last ten days.