Cardano (ADA) Price Slips Again as Resistance Holds Strong: How Low Can It Go?

The price of Cardano has decreased by around 11% since its April high, and this downtrend might continue.

According to a recent X post by analyst Ali Charts, the latest chart patterns suggest that ADA could be nearing the mid-range of a major breakdown zone.

Cardano Price Could Slide Further

Cardano has been trading inside a well-defined descending channel since late 2024. This technical pattern indicates a bearish market, and every time ADA has tried to break out, it’s been pulled back down.

ADA was rejected again at the top of this channel, around the $0.73 mark, as noted by Ali Charts in an X post. This level also coincides with the 0.786 Fibonacci retracement line, which often acts as strong resistance in a falling market.

After this rejection, ADA quickly dropped back below the 0.618 Fibonacci level at $0.68 and is now trading at $0.66. This type of price action is common in a downtrend. According to the chart posted by the analyst, Cardano is now likely headed toward the mid-range of the channel, which aligns with the 0.5 Fibonacci level at around $0.63. If that support fails to hold, the next stop could be down at $0.54, right near the 0.382 Fibonacci level.

The structure we’re seeing on the chart points to consistent lower highs and lower lows, a sign of bearish momentum. Since December 2024, the ADA price has tested the upper boundary of this channel several times but failed to hold any gains. Each rejection has led to a move lower, and this time doesn’t seem much different.

Cardano Price Outlook: Eyes On $0.63 And $0.54

Looking at the bigger picture, the ADA price could be in for more pain if current levels give way. Ali Charts also noted that the $0.63 zone is more than just a Fibonacci level. It lines up with the channel’s midline, which has acted as a pivot point in the past. Losing that would signal a stronger move down to $0.54 or even lower.

Price rejection at resistance, failure to break above the channel, and steady downward pressure are all signals that bulls are struggling to regain control. If this trend continues, ADA could slide toward the lower edge of the channel, somewhere near the $0.44 or $0.38 zone. These levels match the 0.236 and 0.382 Fib retracement lines based on the full move from the $1.21 top to the $0.26 low.

At the moment, any hope for a bullish reversal would require ADA to break above the channel completely and flip $0.73 into solid support. That seems unlikely in the short term, especially given how Cardano is behaving on the charts shared by Ali.

So while the $0.63 level may offer temporary support, the bigger picture still favors the bears. Unless sentiment shifts or new fundamentals come into play, ADA could be on its way to retesting some painful lows.

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