Cardano (ADA) has seen an 11% price surge over the past week, defying the market trend. Transactions involving ADA have been profitable, leading long-term holders to sell some of their coins for profit. Despite profit-taking, Cardano aims to maintain its upward trend. On Thursday, the ratio of on-chain transactions in profit to loss reached 1.53, prompting long-term holders to sell for profit. This is evidenced by the decline in Cardano's Mean Coin Age and Mean Dollar Invested Age. Although profit-taking is underway, Cardano's price is poised to extend its gains by breaking above the descending trend line. If successful, the coin's value may surge by 34% to reach $0.47. However, if profit-taking intensifies and buying pressure weakens, Cardano's price could drop to $0.27, invalidating the bullish outlook.
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