ADA Token Slides 3.25% as Long-Term Holders Sell, Testing Key $0.59 Support on Binance

ADAUSDT declined by 3.25% in the past 24 hours, dropping from 0.6120 to 0.5921 on Binance. This price decrease is primarily attributed to increased selling by long-term holders, as indicated by a spike in the "age consumed" metric, and a broader bearish sentiment in the derivatives market, with rising liquidations and risk aversion among traders. The asset is currently testing key support levels near $0.59–$0.60, reflecting ongoing downward pressure and low volatility, while technical indicators show consolidation and limited buy momentum. Overall, ADA remains under pressure amid sector-wide weakness, with cautious sentiment prevailing as traders monitor for potential support breakdowns or signs of reversal.