Cardano (ADA) Price Reclaiming $0.40 Would Save $3 Billion Worth of Profits
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Cardano's (ADA) price has faced volatility since June, generally trending bearish. Investors hope for a recovery to prevent nearly $3.3 billion in losses. The GIOM indicator shows 3.7 billion ADA at a loss, bought between $0.39 and $0.41. Another 5 billion ADA, bought at $0.36 to $0.39, is at risk of loss if prices drop further.
Currently trading at $0.38, ADA risks falling below $0.36, causing significant investor losses. Only 3% of active addresses are profitable now, and further selling could exacerbate the price decline.
A critical support level is at $0.37; losing it could drop ADA to $0.34. However, reclaiming $0.40 could push the altcoin upwards, recovering losses.
Source: beincrypto.com ↗
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