Cardano has experienced a significant decline of 27% in its price since the beginning of the month, reaching a multi-month low. This has resulted in reduced investor participation and engagement, as reflected by a decrease in active addresses. The lack of bullish momentum has led to limited on-chain activity and transaction volumes. While the decline in price continues, an increase in the Mean Coin Age suggests long-term holders are accumulating or holding onto their ADA, which could potentially provide stability and prevent excessive selling. The current support level for ADA is crucial, and a failure to hold this could lead to further losses. Conversely, if long-term holders continue to support ADA, it could rebound and potentially trigger a broader recovery.



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