Cardano's recent performance has indeed been less than optimistic. Over the past week, it has fallen nearly 17%, with some trading days dropping over 6% in a single day. From a technical perspective, all signals point to selling pressure, forming a classic downtrend.

The most ironic part is that not long ago, the Cardano Foundation announced a hefty budget to promote key network upgrades to enhance sustainability. This should have been a positive signal, but the market completely ignored it. The price continued to fall, and investor confidence was severely drained, with little reaction to governance-related actions.

What does this reflect? The current market sentiment is extremely fragile. No matter how high-quality the project progress or how impressive the technical solutions are, they all seem powerless under the overall pessimism. As an established public chain, Cardano's fundamentals are actually not bad; it’s just being hijacked by collective market pessimism. This phenomenon is common in bear markets—project teams work diligently, but the coin price remains stagnant or even declines. More alarmingly, this downward trend could trigger a chain reaction, dragging down the entire public chain sector.

So, what should ordinary investors do? There are two scenarios: if you are a long-term holder with faith in the project, there’s no need to panic and cut losses at this point, but also don’t rush to add more; wait for real signs of stabilization. If you are a short-term trader, stubbornly holding during a clear downward trend is irresponsible; cutting losses promptly is a wiser choice. If you still want to participate, definitely keep your position small, buy in batches, and never go all-in.

Remember one ironclad rule: in a bull market, everything rises, and even bad news can be reversed; in a bear market, everything is difficult, and even good news may be ineffective. At this stage, patience and risk awareness are more valuable than any trading skill.