Cardano Price Tests $0.14 as Analysts Warn of Deeper Risk
- Cardano Price lost key three-year support near $0.16.
- RSI has entered oversold territory while MACD shows tentative improvement.
- $0.14 remains the critical support level for ADA’s short-term outlook.
Cardano Price remains under pressure after losing a major long-term support level and extending its recent decline. ADA trades around $0.145, down more than 21% over the past two weeks. The latest weakness has prompted renewed debate among analysts over how much further the cryptocurrency could fall before buyers return.
Cardano Price Breaks Major Support as Bears Stay in Control
According to analyst Crypto Tony, Cardano Price recently slipped below its three-year support near $0.16, raising concerns that additional downside may follow. He questioned whether an extreme move toward $0.01 could even become possible if selling pressure accelerates.
The current market structure remains bearish. ADA continues to post lower highs and lower lows while trading beneath its 50-day, 100-day and 200-day exponential moving averages, currently positioned near $0.1904, $0.2248, and $0.3006 respectively.
Technical analysts are watching the $0.14 psychological support closely. A confirmed break below this level could expose the structural support near $0.1382, with some market participants identifying $0.10 as the next major downside zone if bearish momentum continues.
Cardano Price Shows Early Signs of Stabilization
Despite the prevailing weakness, several technical indicators suggest selling pressure may be slowing. The Relative Strength Index (RSI) has fallen to 29, placing Cardano Price close to oversold territory. Historically, readings near these levels have occasionally preceded short-term relief rallies.
Meanwhile, the MACD has turned slightly positive, indicating bearish momentum is fading. However, analysts caution that this does not yet confirm a trend reversal because ADA remains well below all major moving averages.
Derivatives markets also continue to reflect cautious sentiment. Elevated short positioning and negative market expectations have previously created conditions for sharp countertrend rebounds. Even so, traders are likely to monitor whether Cardano Price can reclaim resistance above $0.1451 before considering any sustained recovery.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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