Cardano's price has successfully overcome a month-long resistance line, paving the way for a sustained rise above $0.5. The driving force behind this growth is a shift in investor behavior, with a notable increase in medium-term holders. This change in sentiment indicates a growing confidence in the asset, potentially leading to further accumulation.

The supply held by short-term traders has dropped significantly, from 21.64% to 14.23% in just three weeks. This decrease below 15% suggests that investors are becoming more willing to hold onto their ADA rather than selling. Meanwhile, medium-term holders now control a substantial 50.63% of the total ADA supply. This shift from short-term to medium-term investors is a promising sign, as it indicates a growing trust in the asset.

The Market Value to Realized Value (MVRV) ratio also suggests potential for further growth. The 30-day MVRV has fallen by 8.4%, indicating losses and potentially leading to accumulation. Historically, ADA corrections occur within an 8% to 18% MVRV range, which could indicate a prime buying opportunity. If investors continue to add ADA to their wallets, the altcoin could experience significant growth.

Currently trading at $0.46, Cardano's price is close to breaking above the $0.46 resistance. Turning this into support is crucial for ADA to rise to $0.50. If successful, the altcoin could potentially break the month-long resistance of $0.51 and move towards $0.55 and beyond. However, another failed attempt could lead to a drop below $0.46, potentially sending ADA to the $0.40 level.