The Cardano (Ada) price lost 22 %in the last week and reflected the overall weakness of the market and fell to $ 0.74. However, long -term investors continue to keep their assets in their hands despite this decline.
Why Cardano investors with long -term long -term decrease
On-Chain data show that Cardano’s long-term investors avoid sales. This tendency was confirmed by an increase of 1 %since March 3, the average coin age of the island. The average Coin age sheds light on investor behaviors by analyzing the eclipse of coins in the market.
The rise of this metrical shows that investors have accumulated instead of selling the island and trust the long -term value. This may indicate that sales pressure is reduced and the start of a possible recovery process.
Island whales took action
Great investors also saw this decline as an opportunity and increased their accumulation of island. According to the On-Chain Analysis Platform Santimement, investors holding 100,000 to 1,000,000 islands have purchased 20 million islands in the last week.
Increasing the assets of whales can reduce the supply in the market and create upward pressure on the price. The purchase of large investors shows that confidence in the market continues and a potential recovery is approaching.
Can Cardano rise to $ 0.94?
Kriptokoin.comIn the daily graphs we examine, the island’s power balance (Balance of Power) indicator is 0.30. This level shows that buyers are stronger than sellers and the tendency to rise in the market has begun.
If this acceleration is maintained, the price of the island may rise to $ 0.94. If this resistance turns to a support level, the price is also possible to rise up to $ 1.16. However, if the sales pressure is strengthened again, the island has a risk of decreasing up to $ 0.60.
