Cardano (ADA) has recently faced a significant decline, nearing its monthly low. Concerns arise over the potential end of its Golden Cross, signaling further bearish price action. Long-term holders (LTHs) may play a crucial role in preventing a severe downturn by holding their positions. Market sentiment suggests a possible Death Cross formation as the 50-day EMA approaches the 200-day EMA. The short-lived Golden Cross has left traders uncertain, with a reversal possibly triggering more sell-offs. The Mean Coin Age (MCA) indicates LTHs are holding steady, stabilizing ADA's price amidst market volatility. LTHs' resilience counters negative technical signals, potentially limiting downside risk. ADA's current price at $0.67 holds above crucial support at $0.66, but a breach could lead to further declines. A successful bounce back could see ADA rise to $0.69 and beyond, invalidating bearish trends. Read more AI-generated news on: https://app.chaingpt.org/news