Fun

Cardano Price Woes To Continue? Analyst Expects ADA To Fall To $0.47

News Feed - 2025-06-29 05:06:22

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.


The Cardano price performance has been nothing short of shambolic since the start of May, falling from the lofty heights of $0.85 in less than two months. According to data from CoinGecko, the altcoin’s value has declined by more than 24% in the past month.


While the price of ADA saw an explosive growth at the beginning of the second quarter, the token is now back where it started in April — just above the $0.5 mark. Interestingly, the signs are pointing to further decline for the Cardano price over the next few weeks. ADA Price Stuck In Descending Channel


On Friday, June 27, prominent market analyst Ali Martinez took to the social media platform X to share an ominous prediction for the ADA token’s price. According to the crypto pundit, the Cardano price could be heading to around $0.47 for its next support. Related Reading Ethereum’s Network Is Heating Up While Price Stalls, Is a Breakout Coming? 19 hours ago


This bearish projection revolves around the appearance of a descending channel pattern on the three-day Cardano chart. A descending channel is a chart formation in technical analysis characterized by two major trendlines: the upper line acting as the resistance level and the lower line acting as the support level.


The space between these trendlines serves as the channel within which prices move over a period. Typically, the formation of a descending channelsuggests the persistence of a downward price trend and lower highs. At the same time, traders can use this pattern to identify optimal entry and exit points. Source: @ali_charts on X


The Cardano price chart above, for instance, shows that the altcoin price has been in a downward trend since last November. The token seemed to have turned its fortune around after finding support at the lower trendline in early April and running back above the $0.8 level.


However, the Cardano price failed to break the upper trendline at the beginning of May and has since been experiencing a downturn. According to Martinez, the ADA token could fall to as low as $0.47 — around the lower trendline — to find a support cushion.


Moreover, the 1.272 Fibonacci level — used in technical analysis to identify price targets and support or resistance levels — is also around the lower trendline. Ultimately, this means that the Cardano price could fall even lower than its current price point. Cardano Price At A Glance


As of this writing, the ADA token is valued at around $0.56, reflecting a 1.3% price jump in the past 24 hours. According to CoinGecko data, the price of Cardano is down by more than 3% in the last seven days. Related Reading XRP Down 3% After SEC Settlement Stalls, But Social Media Turns Bullish 23 hours ago The price of ADA on the daily timeframe | Source: ADAUSDT chart on TradingView Featured image from Investopedia, chart from TradingView

News Feed

Bexplus Is a Crypto Exchange With Unique Copy Trading and Demo Account You Can Trust
Bexplus Is a Crypto Exchange With Unique Copy Trading and Demo Account You Can Trust press release PRESS RELEASE.Bexplus Exchange is a leading crypto derivatives trading platform of
OpenAI makes ChatGPT ‘less verbose,’ blurring writer-AI distinction
Amaka Nwaokocha1 hour agoOpenAI makes ChatGPT ‘less verbose,’ blurring writer-AI distinctionThe update could worsen the ongoing challenge of writers sounding like AI despite having written the articles themselves.370
Derek Andersen6 hours agoSen. Warren, 100+ legislators write White House, Treasury about crypto and terrorismThe letter was signed by crypto opponents and many lawmakers who had been neutral on crypto until now.1007 Tota
90% of Bitcoin ETF inflows are still retail — VanEck CEO
Gareth Jenkinson31 minutes ago90% of Bitcoin ETF inflows are still retail — VanEck CEOThe CEO of investment management firm VanEck says spot Bitcoin ETFs have mainly attracted inflows of capital from retail investors f
Arbitrum Surpasses $1.5 Billion in TVL Following Rumors of a Possible Token Airdrop
Arbitrum Surpasses $1.5 Billion in TVL Following Rumors of a Possible Token Airdrop Arbitrum, a second layer expansion rollup for Ethereum, has breached the $1.5 billion of total v
OneCoin Founder’s Brother Faces 90-Year Jail Term After Plea Deal
The Department of Justice (DOJ) reached a plea deal with Konstantin Ignatov for his involvement in OneCoin Ltd., a cryptocurrency project based out of Bulgaria. Ignatov pleaded guil
Li.Fi releases incident report following $11M hack
Vince Quill4 hours agoLi.Fi releases incident report following $11M hackThe team also announced it was working on a voluntary compensation plan to reimburse 100% of funds to users affected by the exploit.492 Total views5
SEC charges Novatech, company founders, promoters with fraud
Vince Quill5 hours agoSEC charges Novatech, company founders, promoters with fraudNovatech claimed funds were stolen via a cyberattack in May 2023 and reassured customers the company was working to recover the assets.286
William Suberg17 hours agoBTC price due for $31K as analyst says ‘disinflation’ boosting BitcoinBitcoin and crypto markets seem ready to put in a “major move,” commentary concludes, as BTC price action coils up b
Bitget Takes on World Cup 2022 with Messi to Inject Confidence in Social Trading
Bitget Takes on World Cup 2022 with Messi to Inject Confidence in Social Trading sponsored The leading exchange expands the team globally as Messi leads Argentina to the round of 16
Amaka Nwaokocha14 hours agoNigeria to issue verifiable blockchain certificates for NYSCThis initiative aims to house all NYSC certificates on the blockchain, providing individuals with the means to easily verify and auth
Fuzzle NFT Game is Landing on Planet Earth
Fuzzle NFT Game is Landing on Planet Earth press release PRESS RELEASE. PLANET EARTH (April 27, 2022) – Gala Gameshas teamed up with Endless AI to introduce Fuzzle– a