Cardano (ADA) has experienced a 22% decline in price over the past week, in line with the broader market. Despite this, long-term holders (LTHs) have remained unfazed and have been holding onto their assets instead of selling. The rising Mean Coin Age, which tracks the average age of all ADA coins in circulation, indicates that investors are accumulating and have confidence in the coin's long-term value. Additionally, ADA whales have increased their accumulation, demonstrating positive sentiment towards the altcoin. On the daily chart, the Balance of Power (BoP) is positive, suggesting upward momentum and the potential for ADA's price to rally toward $0.94 and possibly even $1.16 if a resistance level becomes a support floor. However, if sellers regain dominance, the price could fall to $0.60.



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