Cardano Price Breaks Key Support, Drops Below $0.76

Cardano (ADA) price has broken below a key support level, signaling strong bearish momentum.

The price failed to hold above $0.85 and has dropped below $0.76 leading to further downside risks.

Investors are monitoring price movements to assess further developments.

Cardano price Drops Below $0.85 as Selling Pressure Increase

Analysis by WingHaven’s confirms that Cardano price has broken down from a symmetrical triangle pattern on the four-hour chart.

The breakdown indicates that sellers remain in control, pushing the price lower.

The 50-period Exponential Moving Average (EMA) at $0.85 now acts as resistance, limiting recovery attempts.

ADA price remains below critical trendlines, reinforcing bearish sentiment.

The next immediate support is at $0.76, a level that has held in previous trading sessions.

If selling pressure persists, ADA price could decline further, with the next target set at $0.68.

Sellers Maintain Control as Support Levels Weaken

Coinglass data shows that long positions at $0.804 and $0.84 amount to $9.11 million, while short positions total $5.45 million.

The imbalance favors sellers, increasing the likelihood of continued downside.

ADA price remains in a downtrend unless the price reclaims the $0.85–$0.90 range.

The Relative Strength Index (RSI) indicates oversold conditions, but recovery remains uncertain.

If the price stays below $0.85, further declines may follow. The current market structure favors bearish continuation unless a strong reversal occurs.

If Cardano price Holds Long-Term Support Above $0.80

However, Ali Martinez analysis highlights a different perspective, focusing on ADA’s long-term price structure.

If ADA remains above $0.80 and successfully breaks the $1.20 resistance, the trend could shift.

Historical data suggests that Cardano price has consolidated before major rallies, making these levels significant.

Ali’s chart analysis projects a possible rally toward $10 if the price structure improves.

Previous price movements have shown similar consolidation phases before breakouts.

The $1.20 resistance level remains the key area to monitor for a bullish reversal.

Break Above $1.20 Could Confirm a Trend Shift

Levels above $0.85 and $0.90 could signal the beginning of a bounce. In a nutshell, buyers require volume to force their way through barriers or the resistance levels.

Should bullish pressure continue, ADA could try to retest the $1.20 level, which could act as a significant breakout level for higher prices.

A historical analysis presented by Ali confirms that Cardano price has a pattern of consolidation for an extended period before the commencement of an uptrend.

This indicates that for the structure of the set market to be changed, it has to break $1.20.

If the price of top altcoin rises above this level, there are chances that more price levels may be targeted by ADA.

ADA price is still experiencing bearish pressure in the short term, and key levels defining the further price action.

Currently, Cardano is at $0.7191, which makes it 11.20% down from the previous day. 

In the last 24 hours, ADA has ranged between $0.8656 and $0.70. Cardano price depends on whether it sustains above a crucial support level or breaks through a resistance level.