#CardanoDebate

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

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

Once again, ADA failed to remain above 0.70 dollars, a level that has blocked advances since late May. However, the balance for 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 dollars

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

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 could indicate a new decline.

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

Cardano (ADA) chart on TradingView

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