Cardano (ADA) is currently facing significant market resistance due to a combination of bearish trends and recent sell-offs. This has resulted in more than 260,000 addresses holding over $2.77 billion in ADA struggling to break even. Short-term holders, in particular, have been affected as they navigate these challenging market conditions.
The situation underscores the difficulties faced by Cardano in trying to recover amid the current market environment. The mounting challenges for its holders could limit ADA's potential for recovery in the short to mid-term period.
