Despite Cardano ($ADA ) facing price consolidation and experiencing a 15.39% decline in December, it continues to demonstrate remarkable resilience. Data from IntoTheBlock reveals that 61.63% of Cardano wallet holders remain profitable, even during these turbulent market conditions, especially as $ADA approaches critical psychological levels like the $1 mark.
Key Market Insights
$ADA hit a one-month low of $0.7618 on December 20, but managed a slight rebound thereafter. As of now, 2.71 million Cardano wallets remain in profit, even while the price lingers below the $1 threshold. On the other hand, 1.51 million wallets are at a loss, and 179,970 wallets are at breakeven.
Path to Recovery for ADA
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For Cardano to regain its upward momentum, several key levels must be broken:
1. ADA must first surpass the $0.9972 resistance level, a high reached on December 21.
2. A breakthrough above the 20-day moving average at $1.0321 is crucial.
3. Additionally, ADA faces a strong supply zone between $0.9696 and $1.09, where 243,900 addresses hold a total of 3.77 billion ADA.
Analyst Perspective
Optimism remains in the market, with analysts like Javon Marks forecasting a potential surge of up to 180%, projecting a rise to $2.77 if ADA can break free from its current consolidation phase.
What’s Your Outlook?
Do you believe ADA can transform the $1 mark into a solid support level, or will it face further resistance? Share your insights and let’s discuss the po
tential future for Cardano.
