Cardano (ADA) is grappling with a bearish trend as it encounters significant resistance at $0.3968. Currently trading at $0.3388, ADA has seen a 3.2% decline in the past 24 hours, with its price fluctuating between $0.3304 and $0.3517. Despite the downturn, trading volume has surged by 37%, indicating active market engagement. Over the past week, Cardano has dropped 5.1%, and its 14-day performance shows a 7.1% decline, underscoring a persistent bearish trend. The 30-day performance reveals a 12.7% loss, highlighting ongoing challenges in regaining upward momentum. Liquidation data shows $3.91 million in 24-hour liquidations, predominantly from long positions, suggesting strong pressure on bullish traders. For Cardano to reverse its trend, it must break through the $0.3968 resistance and maintain support above $0.330. Failure to hold this support could lead to further declines, with the next support level near $0.30. The market's focus remains on ADA's ability to overcome these hurdles and potentially initiate a bullish reversal.