Cardano price flashing bullish signal as MDIA indicator soars

Here’s why Pi Network, Jasmy, LTC, Ethena, and altcoins are down

Cardano price is slowly forming a popular bullish pattern, pointing to a strong bullish breakout in the next few months or weeks.

Here’s why Pi Network, Jasmy, LTC, Ethena, and altcoins are down

Cardano, a popular proof-of-stake coin, remains in a bear market after plunging by almost 50% from its highest level in November. However, some on-chain data and technical indicators point to a strong bullish breakout in the coming weeks or months. Santiment data shows that the Mean Dollar Invested Age, or MDIA has continued rising in the past few months. The 180-day MDIA indicator has jumped to 10.68, up from minus 3.2 in February.

Here’s why Pi Network, Jasmy, LTC, Ethena, and altcoins are down

Similarly, the 2-year MDIA indicator has jumped to 103, up from the year-to-date low of 94. A rising MDIA indicator is often seen as a bullish sign, while a dropping one shows that they are selling their coins. Cardano, like other cryptocurrencies, has dropped in the past few months. This decline is partly because of profit-taking by some traders after its strong performance in the fourth quarter. It is also because of the ongoing fear of President Donald Trump’s tariffs.