Key Highlights:

  • $ADA enters the final leg of a five-wave Elliott correction.

  • Key Fibonacci levels suggest a potential drop to $0.40–$0.50.

  • Analyst urges patience, sees long-term structure intact.

Cardano is facing intense downward pressure, with analysts warning that the final wave of a major correction may be underway. Despite the bearish short-term outlook, some experts believe this could be the last leg before a potential reversal.

Elliott Wave Signals Final Leg Down

Crypto analyst Quantum Ascend suggests ADA is completing a five-wave Elliott pattern, with the fifth and final wave now unfolding. The token is hovering near the 0.702 Fibonacci retracement level, with the 0.786 level just below—both historically linked to deeper corrections. If $ADA breaks below the $0.51 support, it could slide further toward $0.40, marking a potential bottom.

Sentiment Weak, But Structure Holds

Despite the grim technical indicators, the analyst maintains that ADA’s long-term structure remains intact. “As long as we hold the 51-cent level, nothing’s broken,” he noted. The broader market’s weakness—driven by macroeconomic uncertainty and lack of bullish catalysts—has weighed heavily on $ADA since early May. Still, Quantum Ascend encourages investors to stay calm and avoid panic selling, framing the dip as a dollar-cost-averaging opportunity.

While ADA’s short-term outlook remains bearish, the long-term conviction among some analysts hasn’t wavered. With alt season potentially around the corner, Cardano’s current slump might just be the calm before the storm.