CandleFocus Cardano Price Warns $0.65 Breakdown: Is $0.50 On Horizon?
2025-02-25
Author: Content Editor
The price of Cardano (ADA) has dropped by 10% within a wedge pattern, indicating a potential breakdown and raising speculation that it could fall to $0.50. The bearish trend continues as Bitcoin also drops below $90,000. The ADA price attempted a bullish move but failed to overcome resistance, leading to the current downfall. Technical indicators suggest a significant plunge may be ahead, with the 50-day and 100-day EMA lines on the verge of a negative crossover and the Chaikin Money Flow Index turning negative. However, there is some short-term optimism due to the SEC acknowledging filings to list Cardano ETF, which could result in a bullish reversal if the broader market stabilizes. The crucial support for ADA is at the 23.60% Fibonacci retracement level at $0.53, while resistance is at the 50% Fibonacci level at $0.7746.
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