Is Cardano (ADA) Experiencing a Bullish Turnaround as its Price Soars to $0.49?

As of the current moment, the trading price of ADA stands at $0.48, which reflects a decrease of 0.38% over the past 24 hours, according to data obtained from CMC. In light of the on-chain statistics provided by Into The Block, it has been revealed that those Cardano addresses that made purchases of ADA at an average price of $0.47 have now reached a point of breaking even. This indicates that these investments will yield returns if the market continues to experience growth. Furthermore, if the price manages to remain above the $0.46 threshold, it is highly likely that the positive momentum will persist.