Cardano risks further losses as whale holdings decline

Cardano's ADA traded below $0.20 on Monday after losing 21% in October, while holding support at $0.1894. Large investors with wallets of 10 million to 100 million ADA reduced their share of circulating supply to 37.45% from 38.03% over the past month. Futures open interest, the total outstanding unsettled contracts, fell about 11% to roughly $419 million from $450 million the previous week. Technical indicators remained bearish; a decisive daily close below $0.1894 could expose $0.1712 and then $0.1537, while buyers would first need to reclaim about $0.2019 to improve the near-term outlook.