My lovely people! Attention, attention! If you have your eye on Cardano (ADA), I bring you some hot gossip that an analyst dropped on June 18. After more than five weeks of ADA's price going like a roller coaster downward, the cryptocurrency expert Quantum Ascend (@quantum_ascend) sent us an alert: it seems we are in the final stretch of a drop before things get good. So stay sharp and don’t sell in panic! 🎢

How far can ADA fall? Quantum Ascend's analysis! 📉

This guy, Quantum Ascend, started by saying that he had already predicted a previous rebound, so we believe him. "We fell into that second wave... and, as highlighted, it bounced from there. So we got it right," said the analyst referring to his past predictions. But now it looks like a longer drop is ahead. "It seems we are turning this into a five-wave downward movement. One, two, three, four, and now we are working on a fifth wave," he explained while looking at the daily chart of ADA. It's like we're in the last chapter of a suspense novel before the big finale! 📚

The numbers don't lie! ADA under the Fibonacci microscope 🎯

Quantum Ascend explained to us that ADA is dancing close to the 0.702 Fibonacci level, and just below it is the 0.786. These levels are key, my people! They are like signals indicating that a deeper correction could be coming, according to the famous Elliott wave theory. "It makes perfect sense that we continue down and fall right into this zone at a minimum," pointed out the expert. So don't panic if you see the price drop a little more.

But not everything is drama! The structure of Cardano remains strong 💪

Despite the news that makes us sweat cold, the analyst gave us a breather: "As long as we maintain the 51-cent level, nothing is broken, no problem, right?" he assured us. Phew, what a relief! This means that even if it drops, the base structure of Cardano remains intact.

However, the overall outlook is a bit gray. We need Bitcoin, Ethereum, or some other major crypto to skyrocket to give the market a boost. Because, to be honest, "the market has practically been crashing... for over a month." And it shows!

ADA has been more dim than a funeral home light since early May, and people are losing faith. But Quantum Ascend gave us golden advice: don't despair! "It's just an opportunity to average down the cost in dollars," he said. And he totally understood the exhaustion of many: "I understand what you’re saying, QA. I’ve been averaging down the cost in dollars for seven months. I get it. I've been through that." He read our minds! 🧘‍♂️

Patience, my people, summer has arrived! ☀️

Instead of selling everything out of panic or being glued to the screen watching every cent, the analyst recommended that we take a breather. "Do something fun, it's beautiful, it's summer. Do something else, anything else. But this will resolve itself and the alternative season is just around the corner," he encouraged us. That's the spirit!

Although the chart looks somewhat bearish in the short term, her faith in Cardano in the long term remains intact. "World War III is not starting. I couldn't be more convinced about all these things." Expert's word!

So, while ADA might be entering the last leg of this correction, and the markets are looking for a signal to revive, all eyes are on whether those support levels hold. Will Cardano hold or drop a little more before the long-awaited recovery arrives? Let's wait with a coffee and good vibes! ☕

At the time of writing this, ADA was around $0.6158. Keep an eye on it!