Cryptocurrency
Cardano's Age Consumed Metric Indicates Potential Price Shift
Friday. July 5 at 10:00 PM
1 min. readCardano's Age Consumed metric reached a 35-day high on July 4, suggesting a shift in dormant token movement. This led to a subsequent price decline, indicating a possible local top. Approximately $433 million worth of ADA coins were moved, reflecting the spike in the Age Consumed metric. The metric tracks dormant coin movement, providing insights into long-term holders' behavior. Changes in this metric often precede market trend shifts, serving as a potential price bottom or top indicator. Currently trading at $0.32, ADA has seen a 17% decline in 24 hours, with a bearish divergence between price and trading volume hinting at further declines. With a strong downtrend confirmed by the Aroon Down Line at 100%, ADA may dip to $0.31 if bearish momentum persists. However, increased buying pressure could push the price to $0.34.