Cardano Tests $0.63 Support as Downtrend Threatens Further Losses
- Cardano is trading inside a descending channel, signaling a sustained downtrend.
- Ali Martinez notes that key support is $0.63, with a potential downside to $0.54.
- The current trend suggests bearish momentum unless ADA breaks the channel pattern.
Cardano is testing a key support level near $0.63, based on chart analysis shared by crypto analyst Ali Martinez. The price pattern shows ADA moving within a descending channel. The token may fall to the $0.5 range if it breaks below this support.
Cardano Price Pressured at Critical Support
Cardano is trading at $0.6399, marking a 3.2% decline over the past 24 hours. This came despite ADA posting a 17.7% gain over the past week. Meanwhile, the token has been trending downward since early 2025, forming a consistent series of lower highs and lower lows.
Analyst Martinez’s three-day chart shows a descending channel that has contained ADA’s price movement for months. The channel’s lower boundary now aligns closely with the $0.63 support zone.
Potential for Further Decline to $0.54
Technical analysis suggests a break below $0.63 could lead to a decline toward $0.54. This level corresponds with the 0.61…
The post Cardano Tests $0.63 Support as Downtrend Threatens Further Losses appeared first on Coin Edition.
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Cardano Tests $0.63 Support as Downtrend Threatens Further Losses
- Cardano is trading inside a descending channel, signaling a sustained downtrend.
- Ali Martinez notes that key support is $0.63, with a potential downside to $0.54.
- The current trend suggests bearish momentum unless ADA breaks the channel pattern.
Cardano is testing a key support level near $0.63, based on chart analysis shared by crypto analyst Ali Martinez. The price pattern shows ADA moving within a descending channel. The token may fall to the $0.5 range if it breaks below this support.
Cardano Price Pressured at Critical Support
Cardano is trading at $0.6399, marking a 3.2% decline over the past 24 hours. This came despite ADA posting a 17.7% gain over the past week. Meanwhile, the token has been trending downward since early 2025, forming a consistent series of lower highs and lower lows.
Analyst Martinez’s three-day chart shows a descending channel that has contained ADA’s price movement for months. The channel’s lower boundary now aligns closely with the $0.63 support zone.
Potential for Further Decline to $0.54
Technical analysis suggests a break below $0.63 could lead to a decline toward $0.54. This level corresponds with the 0.61…
The post Cardano Tests $0.63 Support as Downtrend Threatens Further Losses appeared first on Coin Edition.
Read More
Solana’s UTXO Data Signals Key Support at $129 Amid Short-Term Price Range?