Cardano risks further losses as ADA drops below the $0.220 support

Cardano’s ADA traded below $0.220 on Thursday after buyers failed to hold the previous day’s recovery above its 50-day exponential moving average, leaving the token under both its 50-day and 200-day EMAs. ADA’s long-to-short ratio stood at 0.96, near its lowest in more than a month and indicating a greater share of short positioning among measured accounts, while its funding rate was -0.0025%, meaning short-position holders were paying longs. The Relative Strength Index was in the low 40s, below the neutral 50 threshold, and the Moving Average Convergence Divergence remained negative. The token hovered just above the 100-day EMA around $0.220, with $0.210 cited as next support if that level breaks.