Cardano's Selling Pressure Decreases by Nearly 50%

On-chain data indicates a significant reduction in Cardano's selling pressure, with the Spent Coins Age Band metric decreasing from approximately 171.42 million to 89.97 million coins. According to NS3.AI, this decline, coupled with a bullish divergence on the 12-hour RSI and a local profitability bottom, may facilitate a rebound attempt over the weekend. ADA is currently trading near a support level of $0.255–$0.258, while resistance zones are identified between $0.270 and $0.294 as potential targets for upward movement.