Cardano (island) has lost 27 %since the beginning of the month, decreasing to the lowest level of many monthly. The decreasing investor confidence and the falling network activity contribute to this decrease in the island price. While the current sales pressure continues, it is wondered whether the island can recover.
The activity in the Cardano network is decreasing
The number of active addresses in the Cardano network has decreased to 25,600 since November 2024. This decrease shows that investor interest is reduced and the transaction volumes on the network decrease. While the lack of bull momentum leads to the withdrawal of investors, this limits the over -chain activity.
The continuous decline tendency in recent months points to the weakened demand for the island. Unless there is a positive change in investor sensitivity, downward pressure on the Cardano price may continue. Until this trend changes, the island seems difficult to recover.
Role of long -term holders (LTH)
Cardano’s Mean Coin Age (average Coin age) Metrik has been increasing since the beginning of the year. This metric follows how long the coins are held in wallets. The increase in the Mean Coin Age shows that long -term holders (LTH) hold the island instead of selling the island.
This behavior is critical for the recovery of Cardano. The continuation of LTH’s positions can prevent excessive sales pressure. In addition, the continuation of long -term investors can help stabilize the island price and find a potential recovery.
Cardano Price Estimation: Critical Support Levels
Cardano is currently trading for $ 0.70 and this level is considered a critical support zone. If the island loses this support, the price has a risk of decreasing up to $ 0.62. This decrease may cause the lower trend line of the falling wedge formation to break and increase investor losses.
On the other hand, thanks to the support of long -term holders, the island can be recovered from $ 0.70. If the price exhibits a movement towards $ 0.77, and if this level becomes support, the decline appearance may become invalid. This may be the beginning of a wider recovery.
