The price of Cardano decreased by 11 % in its highest level in April, and things may get worse. ADA shows signs that this may not be just a short -term decline.
The latest pattern patterns indicate a deeper correction in the business, especially after the premium symbol failure to fracture above the main resistance level. Currently, ADA PRICE sits near a major collapse area.
ADA price that was rejected at the main resistance, the declining direction may continue
Cardano has been traded inside a well Comic Since late 2024, this is a classic declining pattern, and every time ADA tried to go out, it was transferred down. ADA was rejected again at the top of this channel, about $ 0.73, and this was also observed by Ali Plans in X. This is the same level as the decline line 0.786 Fibonacci, which is often a strong resistance in the falling market.
After this rejection, ADA quickly fell to less than the Fibonacci level 0.618 at $ 0.68 and is now hovering about $ 0.66. This type of price work is not unusual in the declining direction. According to the graph published by Analyst on the plansCardano is now likely to turn towards the middle of the channel, which corresponds to the 0.5 Fibonacci level at about $ 0.63. If this support fails to keep it, the next station may decrease at $ 0.54, near the level of 0.382 Fibonacci.
The structure that we see on the graph indicates the highest fixed and lower levels, a sign of a declining momentum. Since December 2024, the Ada price has tested the upper limits of this channel several times but failed to achieve any gains. Every refusal has led to a decrease in the move, and this time does not seem much different.
Outlook Cardano Price: eyes on $ 0.63 and $ 0.54
Looking at the broader image, the ADA price can be more pain if the current levels are given. Ali’s plans also indicated that the $ 0.63 region is more than just a Fibonacci level. It lined up with the channel’s midfield, which was a pivotal point in the past. Loss of this would indicate a stronger transition to $ 0.54 or even less.
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Rejection of prices when resistance, failure to break the canal, and pressure fixed, are all indications that the bulls are struggling to restore control. If this trend continues, ADA can slide towards the bottom edge of the channel, somewhere near the $ 0.44 or 0.38 dollar area. These levels are identical to the decline lines 0.236 and 0.382 from FIB based on the full transition from the top of $ 1.21 to $ 0.26.
Currently, any hope of ADA will require the channel to be completely broken and stir $ 0.73 to strong support. This looks unlikely in the short term, especially given how Cardano behaves on the plans that Ali shares.
So, while the level of $ 0.63 may provide temporary support, the largest image still prefers the bears. Unless the transformations enter into the feeling or new basics, ADA can be on its way to re -test some of the painful bottoms.
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