#CardanoDebate

Is Cardano at risk? The price could fall below $0.60

Cardano (ADA) continues to follow the widespread decline of the crypto market this Thursday (13), with a 4% drop in the last 24 hours.

This movement triggers a warning signal, especially considering the difficulty of the altcoin to overcome important resistances.

Once again, ADA failed to stay above $0.70, a level that has blocked advances since the end of May. However, the balance of June remains positive.

Nevertheless, technical analysis suggests that new lows could be near. Below, we explain the possible scenarios.

Critical price levels could take Cardano down to $0.50.

Cardano has been in a bearish trend since May 23, when it formed a double top at $0.85. Since then, its price has fallen more than 25%, marking a new low at $0.61.

The recent reaction provided some relief, but it stalled at the 0.5 Fibonacci retracement level, reinforcing that region as resistance. With the rejection at this point, the chart may indicate a new decline.

The Fibonacci Extension tool projects a possible target of $0.50. This level would represent an additional 25% depreciation, bringing ADA to prices not seen since November 2024.

Despite this, buyers still have a chance to curb the pressure. To do this, they must defend the supports at $0.67 and $0.61. For this reason, the current moment requires a broader interpretation of other charts and indicators to determine what the next move will be.