币界网报道：Background: Cardano (ADA) has been falling since the end of May, despite a brief 46% rebound from Bitcoin's sharp rise from April to early May. Main Events: - ADA prices have failed to break through the low range of nearly six months, and market sentiment is bearish. - Santiment data shows that although daily active addresses remain stable, development activity has declined since February, and long-term investors need to pay attention to this trend. - The 90-day MVRV ratio shows that holders have made profits in the past 90 days, but the proportion of profitable holders has declined rapidly, and any price rebound may encounter selling pressure. - The average coin age has declined, indicating that the coins in the network are widely distributed, and this trend needs to change to help the price rebound. - The market structure turned bearish on May 30, with the key support level of $0.51, and a break below it may test the $0.427 support. Potential impact: Price rebound is unlikely in the short term, and selling pressure is strong. It is necessary to observe whether indicators such as the average coin age rise to confirm the formation of a bottom.