Watch out for Cardano, my people! 🚨 Could it be that a highly anticipated launch like the Midnight sidechain is not enough to rescue ADA from the bears' claws? 🐻📉

Look, here's the thing: Just when Cardano (ADA) holders were watching their wallets in red, the launch of Midnight's native token [NIGHT] arrives. This sounded like the signal everyone was waiting for an epic bounce, one of those "extreme buy" opportunities that changes the game. And at first, bam! They did it.

A week before December 8, ADA came from a low of $0.37 and shot up a brutal 30.6% to $0.484. Up like a rocket! 🚀 But there, at $0.484, the party ended. The bulls (those who want it to rise) did not have the strength to break a key long-term resistance at $0.52. This tells us something important: that bullish strength was not as reliable as it seemed. There simply weren't enough people putting in money with conviction.

Now, the situation has become tense, very tense. Sellers are pushing hard and have set their sights on the critical level of $0.405. If ADA closes a day below that mark, the market structure is officially considered "bearish" and we return to the downward trend. And watch out, because below that is the floor of $0.37. If we break both, get ready to keep seeing red numbers. 😱

Technical indicators are not helping at all. The CMF (a money flow indicator) is screaming that selling pressure is increasing, and the DMI confirms it: the downward momentum has been intact for a while. There is more capital flowing out than coming in.

But there is a glimmer of hope: The liquidation map shows that there are a lot of short positions (people betting that it will go down) accumulated just above the recent high of $0.48. This is a "magnet" for the price. Sometimes, the price goes up just to liquidate those sellers, creating a strong bounce. It is the only card left for ADA to boost the price. 📈

Conclusion for you: For now, the trend is clear: bearish. If you see ADA drop below $0.405 and, worse yet, if it retests (tries to go up, but that $0.405 now acts as a ceiling), it is a clear signal that the downturn will continue. We need to be super attentive to that $0.405.

Tell me, will Cardano have the claw to defend that level or will the disappointment of Midnight sink it further? Let's debate! 🗣️👇$ADA