Amidst the Bearish Market Sentiment, Cardano's (ADA) Price Prediction Has Become a Key Topic

According to expert technical analysis, ADA has finally turned bearish and is poised to continue its price decline in the coming days. This follows a breakdown from consolidation, which has shifted the overall market sentiment toward ADA tokens.

Amid the bearish market sentiment, Cardano's (ADA) price prediction has become a key topic among traders as they assess the asset's next move. This follows a breakdown from consolidation, which has shifted the overall market sentiment toward ADA tokens.

According to expert technical analysis, ADA has finally turned bearish and is poised to continue its price decline in the coming days. This shift in sentiment follows the breakdown of a consolidation phase that ADA has been experiencing between the $0.69 and $0.75 levels for several weeks.

If the decline continues and a daily candle closes below the $0.622 level, there is a strong possibility that ADA's price could plummet by 30% until it reaches the $0.425 level.

As of now, ADA is trading below the 200 Exponential Moving Average (EMA) on the daily timeframe, indicating a bearish trend and weak price action for the asset.

However, if the bulls manage to push ADA's price above the $0.75 level and close a daily candle above it, it could signal a reversal of the trend and open the door for further gains.

ADA is currently trading at $0.66, having dropped by more than 1% in the past 24 hours. During the same period, the asset's trading volume decreased by 30%, signaling lower participation from traders and investors.

Despite these fluctuations, ADA remains the fifth largest cryptocurrency with a market capitalization of over $25 billion.output: Amid the bearish market sentiment, Cardano’s (ADA) price prediction has become a key topic among traders as they assess the asset’s next move. This follows a breakdown from consolidation, which has shifted the overall market sentiment toward ADA tokens.

According to expert technical analysis, ADA has finally turned bearish and is poised to continue its price decline in the coming days. This shift in sentiment follows the breakdown of a consolidation phase that ADA has been experiencing between the $0.69 and $0.75 levels for several weeks.

Based on recent price action and historical momentum, there is a strong possibility that ADA could see a 5% price drop until it reaches the $0.625 level. However, if the decline continues and a daily candle closes below the $0.622 level, there is a strong possibility that ADA's price could plummet by 30% until it reaches the $0.425 level.

Moreover, if the bulls manage to push ADA's price above the $0.75 level and close a daily candle above it, it could signal a reversal of the trend and open the door for further gains, possibly aiming for the $1 level in the long term.

As of now, ADA is trading below the 200 Exponential Moving Average (EMA) on the daily timeframe, which is a crucial indicator of bearish momentum and weak price action for the asset. A move above this EMA could be pivotal for shifting the trend in favor of the bulls.