Cardano Struggles Near $0.38 as Majority of Holders Face Unrealized Losses

According to CryptoPotato, Cardano (ADA) has experienced over 25% in monthly gains, but more than half of all ADA holders are still facing unrealized losses as the cryptocurrency struggles near $0.38. Data from IntoTheBlock reveals that only 35.71% of ADA holders are in profit, a notably lower figure than other leading protocols. The platform's insights point to a critical resistance point at $0.38, where 7.19 billion ADA has been accumulated. Clearing this level could reduce resistance for the crypto asset and pave the way for increased holder profits. This development coincides with a shift in Cardano's momentum to bearish, coupled with low trading volumes. While total addresses with ADA have consistently surged to 4.4 million, active addresses have remained below 50,000 despite a minor spike. However, experts suggest minimal resistance ahead for Cardano. Crypto analyst Ali Martinez has previously stated that ADA is currently situated within a vital demand range, spanning from $0.37 to $0.38. This critical zone, supported by data revealing 166,470 wallets accumulating a significant 4.88 billion ADA, has instilled confidence among traders.