Cardano (ADA) Under Selling Pressure: Long-Term Investors Have Started to Liquidate

Cardano is currently facing significant selling pressure. The increased sales from long-term holders (LTH) indicate a decline in market confidence. The 'Age consumed' metric has reached its highest level in the last nine months, showing that these investors are cashing out their assets.

Sales from Long-Term Investors are Increasing

The 'Age consumed' metric tracks the movement of coins that have been held for a long time. An increase in this metric indicates that LTHs have started to sell, which generally leads to a weakening of market confidence. LTH sales create significant pressure on prices, especially in bearish markets, making it difficult for Cardano to recover in the short term.

Weak Investor Inflows and Technical Indicators

The Chaikin Money Flow (CMF), one of Cardano's technical indicators, reveals that investor inflows are weak. The CMF indicator is currently below zero, indicating that new capital inflows into ADA have decreased. The lack of new funds entering the market prevents the price from recovering and increases the existing selling pressure.

Price and Support Levels

ADA is currently trading at around $0.61 and has lost 14.6% in value over the past seven days. It is trying to hold just above the critical support level of $0.60. However, if sales continue, the $0.60 support could be broken, and the price could fall to $0.57. This could deepen the downtrend and increase investor losses.

Possible Recovery Scenario

On the other hand, if Cardano maintains the $0.60 support and shows signs of recovery, upward movement may be possible. In such a case, the $0.66 level can be targeted. If selling pressure eases and confidence is restored, the ADA price may rise to $0.70 and reverse the current negative outlook.


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