💥💫✨️ Cardano Holders’ Selling Reverses Momentum, Price Falls Back to $0.6
Cardano's price dropped to $0.60 as long-term holders (LTHs) sold off their holdings, triggering a shift in sentiment and reversing recent momentum. The Age Consumed metric spiked, signaling increased selling activity and contributing to Cardano's bearish outlook. The RSI remains below 50. If Cardano fails to reclaim $0.63 as support, it risks testing $0.57. A recovery could occur if $0.63 is regained, potentially pushing the price towards $0.70.
💡 Quick Take: However, if Cardano manages to reverse its current momentum and reclaim $0.63 as support, it could invalidate the bearish outlook. This recovery would open the door for a potential rise toward $0.70 as the market sentiment improves, and LTHs may become more confident in holding the asset once again.
