Cardano (ADA) Price Analysis and Prediction: Correction Not Over, Warns Analyst

Cardano's ADA token has declined lately, losing 10.52% of its value since December 24, according to crypto analyst Nick Regan.

Crypto analyst Nick Regan has observed a decline in Cardano’s ADA token, with a 10.52% loss since December 24. His analysis examines short-term and long-term price movements, highlighting key ADA price levels and potential trends.

At press time, ADA trades at $0.8713, showing a 3.70% dip in the last 24 hours and a 10.06% decrease over the past week, according to CoinGecko data. This analysis aims to provide insights into ADA’s immediate and future price trajectories.

Cardano Technicals Hint at Further Downside

Regan’s technical analysis suggests a continuation of the downward trend. On the 1-hour chart, support is at $0.7620, with resistance near the 50 EMA and 50 SMA. Previously established support levels are now turning into resistance, indicating bearish momentum.

The Fibonacci retracement tool pinpoints potential short-term targets between $0.7890 and $0.8183. Regan anticipates another downward move before stabilization, stating,

“This pull to the downside is not yet complete. I anticipate another run lower before we see stabilization.”

Momentum indicators, like the MACD histogram, show increasing volume but suggest a likely rejection near the resistance zones. Overbought momentum conditions further support the potential for additional corrections.

A Strategic Opportunity: Shorting ADA

The analysis presents a shorting strategy for traders, suggesting entering a short position near $0.8818, with a stop loss at $0.9260 and a target at $0.8140. This aligns with Fibonacci levels and momentum indicators, according to Regan.

ADA is in the corrective phase of a larger downward move, as per Regan. The anticipated five-wave structure is expected to complete before a potential upswing begins.

Also Read: Expert Charts XRP’s Price Path to $8.67 – Here’s the Outlook

Long-Term Projections and Risks

On a daily time frame, ADA appears to be in Wave 2 of a larger Wave 5 structure.

Regan’s analysis projects a target range between $1.51 and $1.88, contingent on breaking critical Fibonacci levels at $1.38 and $1.67. A failure to surpass $2.27 could result in a diagonal price structure, which might lead to prolonged volatility.

“Failing to hit $2.27 puts us in a diagonal pattern—an emotional roller coaster for Cardano fans,” he noted.

While the immediate outlook for ADA points to further declines, the long-term view suggests a potential recovery toward higher price levels. Watching critical resistance zones and assessing the price action for signs of a breakout above $1.67 to confirm bullish momentum will be key.

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