Long-term investors are starting to sell Cardano (ADA), raising concerns about further price declines. Internal analysis shows an increase in coin consumption activity over the past nine months, which typically indicates a shift in market sentiment. The Chaikin Money Flow indicator remains in the negative zone, indicating seller dominance and a lack of fresh capital. ADA is trading around $0.61, trying to hold above critical support at $0.60 after a weekly drop of 14.6%. If this level is breached, a decline to $0.57 is possible, increasing the risks of further declines. However, if the price can defend the support and recover, a rise to $0.66 and even $0.70 is possible. In the current situation, selling pressure remains, and the market needs a reset of investor confidence to stabilize the price.

#MyTradingStyle $ADA $BTC $XRP