Cardano (ADA) bulls appear to be losing their grip amid the broader crypto market’s consolidation over the past week. Technical indicators suggest that the bullish presence in ADA’s spot markets is fading, a shift that could lead to a potential revisit to its year-to-date low of $0. 50. ADA Bearish Momentum Builds as Buying Pressure Dries Up ADA’s Elder-Ray Index, which measures the strength of its bulls relative to bears, has shown a consistent decline over the past few days, signaling weakening buying momentum
source: https://beincrypto.com/cardano-bulls-lose-momentum/