At the beginning of December, the price of Cardano reached an annual high of $1.22. By now, the rate has already corrected under significant selling pressure.

Analysis of the IOMAP indicator, which helps track potential support and resistance levels, indicates that bouncing back may be difficult.

The main resistance for ADA is located at the level of $0.92. In this area, 58,470 addresses have accumulated 951.02 million tokens. If buyer activity remains low, the altcoin will struggle to break above this resistance. Along with this, the risks of a prolonged correction are increasing.

At the same time, data from Santiment signals that activity on the Cardano network has significantly decreased. Last week, on December 16, the daily number of active addresses exceeded 51,000. As of today, this figure has dropped to 32,700.

This is a clear bearish signal that also confirms the prospects of a prolonged correction for Cardano.