Ada’s Cardano was pressure, lost nearly 50 % of its peak value in late last year, and one analyst believes that the worst may not have ended.
After the peak to approximately $ 1.30 in December 2024, the distinctive code threw nearly half of its value, and is now trading about $ 0.65, according to CONINECKO data.
The decline was not straight, but a series of lower altitudes and failed exit. Technical analyst Ali Martinez Secure The pattern can lead to more losses.
#Cardano $ Ada It was rejected at the top of the descending channel, which may lead to a move of about $ 0.63, or even $ 0.54 if the pressure continues. pic.twitter.com/eszywpzbm
Ali (ali_charts) May 6, 2025
In a post on X, Martinez pointed to the repeated ADA deficit from escaping from a nomadic channel that restricts its price for more than six months.
In late April, ADA bounced back from the upper edge of this range and turned down. Unless the matter explodes, it warns that the symbol has decreased to $ 0.63 – or low up to $ 0.54 in the event of condensation of the sale pressure.
The declining issue depends on the price procedure, not the basics, given that the Cardano development team continues to pay the promotions, and its community is still active. On the ETF front, the possibilities rise.
As Cryptomode reported, analysts set an opportunity of 75 % that the Securities and Stock Exchange Committee (SEC) agrees with Ada Spot ETF later this year. Likewise, we are witnessing a lot of investment boxes based on Altcoin, including famous currencies like Binance Coin (BNB), Sui Network (SUI), and of course Ripple’s XRP.
ADA whales accumulation
However, some signs indicate that withdrawal may be near the maximum.
Recently, the analyst also highlighted a bullish pattern for Cardano, and if the original is able to break the resistance area of $ 0.74, it may exceed the level of $ 0.88 and above.
The retail traders closely follow the relative strength index of the currency, which rose above 58, indicating the underlying force. However, merchants should remain cautious, as anything can happen in the world of encryption.
Others remain difficulties, as Cardano’s founder recently expects the ADA price to reach $ 10.
Read more: Crypto Market drowns 3 % while Bitcoin fails to restore $ 100,000
