Cardano (ADA) has entered a bearish phase following the formation of a death cross on its four-hour chart, leading to a price decline from $0.888 to $0.754 between Monday and Thursday. This technical indicator suggests potential further downside for ADA. The broader cryptocurrency market experienced significant turbulence, with over $855 million in leveraged positions liquidated in the past 24 hours, as reported by CoinGlass. Despite the current market challenges, Cardano is set to implement the Ouroboros Leios upgrade, which aims to increase throughput by 30-55 times, potentially enhancing scalability and transaction capacity.