Cardano Price Forecast: Is ADA Establishing a Support Level or Facing Another Decline?

Current Price and Support Level: Cardano is trading above the $0.40–$0.42 zone, which has historically acted as long-term structural support, but recent rebounds from this level have been weaker and shorter-lived.

Technical Analysis Insights: While Cardano is not in free fall, it shows fading bullish momentum with lower highs since mid-year, and there is no confirmed trend reversal pattern, indicating a distribution phase rather than accumulation.

Price Prediction Scenarios: The bullish scenario requires ADA to hold above $0.40 and break above $0.48–$0.50, while a bearish scenario would see a daily close below $0.40, targeting $0.35–$0.32.

Market Context and Challenges: Cardano struggles in the current market phase characterized by liquidity rotating back to Bitcoin and a risk-off sentiment, making a strong rally for ADA unrealistic without broader market support above $3.3–$3.4 trillion.