Cardano (ADA) is at risk of an 80% decline as the SuperTrend indicator signals a bearish trend, according to analyst Ali Martinez. The weekly chart has turned negative, reminiscent of a 2021 pattern that led to an 84% drop in ADA's value within three weeks. Currently priced at $0.403, ADA has decreased by 1.23% over the past 24 hours.
Martinez warns that if the historical pattern repeats, ADA could fall to $0.064. However, some analysts, such as Quantum Ascend, predict a potential rebound to $0.70. As market risk appetite shifts, traders are monitoring closely for any breakout signals.
Cardano Faces Potential 80% Decline as SuperTrend Indicator Turns Bearish
Disclaimer: The content provided on Phemex News is for informational purposes only. We do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. We strongly encourage you to conduct you own research and consult with a qualified financial advisor before making any investment decisions.
