According to external sources, the Cardano chain activity has continued to fall in recent months, and there has also been a marked decline in ecological lock-down funds. At the same time, ADA has recovered from its lows, but price performance has not improved in tandem with web data, and the market is more concerned about the sustainability of the round.

TVL and Active Address Back

The data cited in the paper show that the total locking value of Cardano had dropped from about $130 million to $140 million, to about $6 million to $65 million in August. This means that the scale of the ecological inflows has not yet recovered.

Chain participation is also slowing down. The number of active addresses dropped from 28,459 to 13,800 and the number of transactions from 26,000 to 17,400. According to the article, this indicates that the price of ADA has recovered and has not been supported for the time being by simultaneous improvements in the use of the network.

$0.165 for short-line support

In terms of price performance, ADA failed to break down by 0.20 dollars and is currently hovering around 0.175 dollars. While the recovery from the 0.14 area has not yet been completely destroyed, $0.165 has become a critical short-line support.

The article mentions that 0.181 to 0.182 is the first resistance area above the current level. If the price is back on the road, the US$ 0.20 will again be the focus of market attention. If we can't hold $0.165, the fallback pressure could increase again.

US$ 0.16 to US$ 0.18

In terms of the distribution of transactions, there is a concentration of transactions in the range of 0.16 to 0.18 United States dollars, which makes the current zone a focal point for multi-space competition. If there is a follow-up breakthrough of $0.20, the region above $0.24 to $0.26 could become the next stronger resistance.

However, the article also notes that the turnover during the latest round of rebounds was not significant. If ADA wants to open up further, the market will usually be more concerned about the synchronisation of the purchase.