Cardano LTHs Witness First Losses In 3 Months, Price May Suffer
Cardano's long-term holders are reporting losses for the first time in three months, signaling weakening investor confidence and potential price struggles.Summary
Cardano (ADA) is facing bearish pressure as long-term holders (LTHs) are registering their first losses in three months, erasing prior gains and suggesting weakening investor confidence. The MVRV Long/Short Difference metric confirms this downturn, showing many LTHs are now below their cost basis. This situation may encourage short-term holders (STHs) to sell quickly, potentially limiting ADA's recovery potential. Furthermore, the Relative Strength Index (RSI) is below 50.0, indicating bearish sentiment dominates. Currently priced at $0.645, ADA is stuck between support at $0.623 and resistance at $0.667 and $0.699. Without a decisive breakout above $0.699, ADA's price is likely to consolidate or face further corrections in the short term.
(Source：BeInCrypto)