08:47
Cardano Price Prediction: ADA Falls to Key Support at $0.41, Long-term Holders Intensify Selling Pressure
The price of Cardano (ADA) is currently retracing to retest the multi-year trendline support that has been in place since 2020, hovering around $0.41. Over the past week, on-chain data shows that long-term holders have sold over 114.66 million ADA, with the "spent token age" metric rising by 23%, indicating that older coins are accelerating their movement, which typically represents seasoned investors choosing to exit.
This is the first time in over four years that ADA has touched this key trend line. Historically, this support often becomes a significant reversal point, but this test is occurring against a backdrop of overall market weakness and declining volume. The volume distribution shows that the price is approaching the strong liquidity area around $0.30, which means that if the current support is lost, the likelihood of a drop towards a lower range increases.
ADA4.3%
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