After a month of suppression, Cardano (ADA) price breakthrough is blocked

Cardano may rise above $5 after breaking through the resistance line, which is supported by the positive attitude of investors. Their confidence and holding expectations have increased.

Investor behavior has an impact on Cardano prices, especially the change in supply. Short-term investors turn to medium-term holders, which shows that investors prefer to hold rather than sell ADA.

The 30-day MVRV shows a loss (below), but historically, ADA has corrected in the MVRV range of -8% to -18%, which is seen as an opportunity to accumulate.

Cardano is currently facing resistance at $0.46, and a breakout of this level could push the price above $0.50 or even to $0.55.

However, failure to break through resistance could cause the price to fall back below $0.46 and even to $0.42.

In the ever-changing cryptocurrency market, it is crucial to conduct in-depth research and seize opportunities.

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