Cardano's price has dropped 13% in the past week, resulting in a decrease in the number of ADA coins held in profit. On-chain data shows that Cardano's total supply in profit has decreased by 3.55 billion ADA within seven days. As selling pressure increases and bearish momentum strengthens, the risk of further reductions in the number of coins held in profit also increases. Cardano's decreased value is partly due to a drop in activity on the network, with a significant decline in the number of unique addresses completing transactions with ADA. The Relative Strength Index (RSI) for ADA on the daily chart indicates weakening demand for the altcoin. Unless buying activity increases, further price declines are likely, with a potential target of $0.85. However, if market sentiment improves and ADA accumulation rises, the price may rally towards $1.12.



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