Cardano (ADA) has experienced a gradual price decline since early December, hitting a monthly low of $0.86. This downward trend has left ADA investors anticipating a challenging start to the new year. Despite this, market indicators point towards a potential buying opportunity for those with a long-term perspective. Cardano's MVRV ratio suggests a potential buy opportunity, currently falling within the -13% to -26% range, historically seen as an accumulation zone for ADA. Buying Cardano at these levels could lead to positive returns, given its past resilience in similar situations. However, challenges lie in Cardano's high Network Value to Transactions (NVT) ratio, indicating a bearish trend due to weak on-chain demand. While ADA's price may consolidate between $0.87 and $1.00 in the short term, failure to hold $0.87 as support could push it down to $0.77, delaying any recovery. Investors should carefully consider these factors before making decisions. Read more AI-generated news on: https://app.chaingpt.org/news