The price of Cardano is falling today, and experts are predicting a 30% crash. This is part of a larger trend in the crypto market, as Bitcoin and other altcoins are also experiencing declines. In the past 24 hours, over $1 billion in crypto has been liquidated, indicating a widespread sell-off. The trade disputes between the US and China, as well as the impact of President Trump’s tariff moves, are major factors contributing to this downturn. Cardano’s price has dropped by 13% to $0.55 in response to the overall market sell-off.
Experts believe that Cardano is facing increasing bearish pressure and may break down from its current triangle pattern. The crucial support level to watch is at $0.51, and Cardano has already tested this point. If the price breaks below this threshold, it could lead to a sharp decline towards the lows seen in October and November, potentially resulting in a 30% drop from current levels.
Looking at a smaller time frame, Cardano’s price structure shows a double-bottom pattern, but the likelihood of a bullish reversal is low. The recent price action suggests a corrective phase, with the current downtrend resembling an ending diagonal pattern. This indicates that Cardano may drop further, possibly completing a third wave down before any significant rebound.
The lack of strong bullish rallies from recent lows also contributes to the bearish outlook. Cardano’s price has struggled to surpass the $0.673 mark, which was the last significant swing high. Until Cardano breaks above this level with a strong five-wave move, the market sentiment will remain cautious.
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