Cardano: Current Situation Analysis

🔵 On Friday, September 6, previously inactive Cardano (ADA) coins began to move, leading to an increase in active addresses and trading activity. However, the ADA price remained almost unchanged within the day.

🔵 According to Santiment, the “age consumed” metric for ADA reached a seven-day high of 6.33 billion, indicating that long-term holders have started moving their coins. The rise in active addresses also suggests a positive sentiment.

🔵 However, the daily chart shows signs of further decline. MACD indicator values suggest strengthening downward momentum. If the bearish trend continues, ADA’s price could drop to the August 5 low of $0.27. However, if demand for ADA increases, the bearish forecasts may not come true.