CandleFocus

Cardano Holders Pass Vote of No Confidence on ADA, Price Eyes $0.30 

Author: Content Editor
Cardano's price has decreased by 46% year-to-date, causing holders to lose faith in its long-term potential as it approaches the $0.30 mark. The decline in price is associated with a decrease in the token's Coins Holding Time, indicating that holders are selling. The Mean Coin Age metric also suggests that holders are planning to sell, further fueling speculation of further price declines. The daily chart shows a head-and-shoulders pattern, indicating an accelerated downtrend. If the bearish momentum continues, Cardano's price could drop below $0.33 and potentially reach $0.30, but there is still a chance for a rebound if holders stop selling.

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