Cardano (ADA) is under pressure as it closed last week below a critical support level of $0.245, potentially paving the way for an 11% drop to $0.22, according to analyst Ali Martinez. The ADA price, which opened near $0.25 and closed at approximately $0.241 on March 29, confirmed a break of its multi-week support floor. Martinez suggests that the bearish outlook will persist unless ADA reclaims $0.269 as support, a level identified by trading analyst Crypto Patel. The bearish sentiment is compounded by on-chain and derivatives market pressures. Large Cardano holders have maintained their positions, while mid-tier holders have distributed tokens, and retail investors have been liquidating. Additionally, Cardano's Open Interest (OI) has significantly declined from $846 million in January to around $370 million, indicating reduced market activity and potential further downside.