ADA coils under $0.28 trendline as short positions build

Cardano is trading in a tight $0.241–$0.254 range, pressing against a descending trendline resistance near $0.28 that technicians say will define the next meaningful directional move. RSI sits just under 50 and price remains below its 50-day moving average — neither breakdown nor breakout, but a structure that is visibly coiling.

Derivatives data adds a bearish lean: Open Interest is stable while short positions are rising, a combination that reflects active trader conviction on the downside rather than neutral indecision. The floor at $0.241–$0.244 is the level to watch; a clean break there could accelerate selling quickly given how compressed the range has become.

A push above $0.28 on volume would flip the short-term trend and open a path toward $0.30–$0.32, but the base case looks like continued sideways chop until broader market risk appetite — largely dictated by Bitcoin's…