ADA stabilizes at $0.28 amid mixed market signals: Check forecast

ADA, the native coin of the Cardano ecosystem, lost its place in the top 10 to Bitcoin Cash earlier this month. However, it has outperformed other cryptocurrencies in the top 20 list over the last seven days and could reclaim its position if the recovery persists. The coin has stabilized around the $0.28 region on Wednesday after failing to break above a key resistance level over the weekend. Mixed signals from the derivatives market and on-chain data suggest that ADA’s short-term outlook remains uncertain.  Derivatives data show weakening bullish momentum According to CoinGlass, Cardano futures Open Interest (OI) now stands at $440 million, and has been steadily declining since mid-January. The decline in OI over the past month suggests waning…