Cardano at a Crossroads: Reclaim This Key Level or Face a Drop to $0.32 – Is ADA’s Bull Run Done?
Cardano's rally hangs by a thread as critical support wavers—failure to hold could send ADA tumbling to $0.32. Here's what traders need to watch.
The Make-or-Break Moment for ADA
Cardano bulls are sweating as the cryptocurrency teeters on the edge of a major breakdown. If ADA doesn't reclaim its current support level fast, analysts warn of a plunge to $0.32—a gut punch for latecomers chasing the rally.
Market Psychology at Play
The charts don't lie: ADA's price action mirrors the classic 'buy the rumor, sell the news' pattern—except the 'news' was mostly hype from crypto influencers with bags to dump. Now reality bites as weak hands fold.
The Silver Lining (If You Squint)
Seasoned traders see opportunity in this pullback. A clean bounce off $0.32 could set up a textbook Wyckoff accumulation pattern—just don't tell the 'to the moon' crowd who think corrections are FUD.
As always in crypto, the line between 'strategic accumulation' and 'catching falling knives' depends entirely on whether your trade works out. Place your bets—the house always wins.
Cardano To See More Bleeding
Cardano is recording a 4.5% daily increase after bouncing from the $0.51 area on Sunday. Notably, ADA was in a downtrend following its 3-year high of $1.32 in December 2024, which ended after the late April breakout and May bullish rally.
However, the cryptocurrency has struggled to hold its April-May range amid the June market pullback, losing the key $0.66 area ten days ago. Since then, Cardano has recorded seven consecutive red daily candles and fallen below the $0.60 support.
Sjuul from AltCryptoGems suggested that Cardano’s rally will be halted unless some ground is recovered. According to the analyst, the cryptocurrency’s multi-month price action “ended up being a classic distribution schematic” after losing the $0.66 support.
This WOULD signal that ADA’s uptrend has ended and a potential downtrend is ahead. “As long as we don’t reclaim $0.66, just expect further downtrend from now on,” he asserted.
Meanwhile, market watcher Man of Bitcoin highlighted the cryptocurrency’s June downtrend, affirming that if the price remains below the descending trendline, downward pressure will persist.
He added that “One more low in wave iv is still possible,” hinting that a drop below the $0.50 could be on the horizon before the next wave up. Nonetheless, the analyst noted that “it should be a brief wick to the downside” as a “sustained break lower would weaken the bullish outlook.”
ADA Retest To Trigger Rally To $1?
Amid the ongoing global war tensions, ADA’s price retested the crucial $0.52 support on Sunday, hitting a four-month low of $0.51, before recovering and closing the week around the $0.54 mark.
Market watcher ROSE Premium Signals noted that a weekly close around the crucial $0.56 level would continue the possible double-bottom setup forming on ADA’s chart.
The analyst added that a confirmed rebound from the $0.54-$0-56 area could send the price to the initial $0.99 target and set the stage for a climb toward the $1.20 and $1.50 resistances.
On the contrary, failing to hold this area could see cardano lose its six-month price range and retrace to the $0.32 level. Meanwhile, Crypto Billion affirmed that Cardano appears to be forming a potential triple bottom structure, which could lead to a bullish reversal.
As the cryptocurrency retested the $0.50-$0.52 area over the weekend, the analyst highlighted that this key range had been held twice before since the November breakout.
Additionally, he pointed out that ADA’s price appears to be trading within a multi-month falling wedge pattern, which suggests a breakout toward the $1 mark if the price climbs toward the upper boundary.
As of this writing, Cardano is trading at $0.54, a 15.6% decline in the weekly timeframe.
