- 23% of Cardano investors have held their ADAs for more than five years, reflecting their confidence in the project.
- Overcoming resistance between $0.54 and $0.56 could propel ADA’s price toward an upside target of $0.68.
In recent days, Cardano (ADA) has captured the attention of the crypto sector, reaching a recent peak that piques the interest of both investors and market watchers.
![ada-cardano-hold](https://www.ethnews.com/wp-content/uploads/2024/02/ada-cardano-hold.jpg)
Despite a slight drop in its price, the outlook for ADA shows signs of cautious optimism among its investor community, especially those who have demonstrated their long-term commitment to the cryptocurrency.
Beyond the daily fluctuations, there are signs of confidence and stability provided by Cardano’s long-term holders. IntoTheBlock data highlights that a considerable percentage of ADA holders have maintained their investment over extended periods, reflecting a confidence in the Cardano project and its long-term goals.
![adress-cardano-hold adress-cardano-hold](https://www.ethnews.com/wp-content/uploads/2024/02/adress-cardano-hold.png)
Specifically, 23% of Cardano investors have held their coins for more than five years, controlling a substantial volume of ADA supply. This group has not only maintained their investments through various market cycles but has also increased their holdings since the inception of 2024.
![Historical Active Addresses by Profitability](https://www.ethnews.com/wp-content/uploads/2024/02/Historical-Active-Addresses-by-Profitability.png)
Another segment of the Cardano community has not sold their purchased ADAs in the last six to twelve months, and a third group holds their coins purchased in the last 18 to 24 months. These data reflect a dedicated investor base that is optimistic about Cardano’s future.
The outlook for the ADA price
Cardano at the moment is at a key resistance zone between $0.54 and $0.56, where a concentration of management holds about two billion ADA.
![ADAUSDT_2024-02-13_10-21-09 ADAUSDT_2024-02-13_10-21-09](https://www.ethnews.com/wp-content/uploads/2024/02/ADAUSDT_2024-02-13_10-21-09.png)
Overcoming this level, could be the catalyst for a breakout to higher prices, potentially reaching $0.68.
Long-term investor commitment to Cardano not only provides a solid support base for the cryptocurrency but also reflects a shared belief in the vision and growth potential of the project.
As the Cardano community looks to the future, the combination of a loyal investor base and overcoming key resistance in the price of ADA could usher in a new phase of appreciation for the cryptocurrency.
At the time of writing, ADA is trading at $0.54.