Cardano Price Could Close May Below This | Crypto News
After hitting its cycle high last August, the Cardano price has continued in a downward slope toward lows not seen since 2024. Despite the calls of an altseason early into May, the ADA token has erased all the beneficial properties realized at the start of the month. Interestingly, the current Cardano price construction suggests the altcoin could also be at risk of additional draw back in the approaching months if it closes below a important assist stage in May.
ADA Price Could Fall 78% If This Support Is Broken
In a May thirtieth post on the X platform, crypto analyst Ali Martinez revealed that the Cardano price has been hovering around a make-or-break stage over the past couple of weeks. Looking at the highlighted month-to-month chart, the altcoin is at risk of closing the month of May below a major historic assist stage.
As shown in the chart below, the Cardano price has been trending within a multi-year channel formation since 2021. After reaching the higher boundary of the channel at $1.195 in early 2025, the cryptocurrency’s price has been in a regular decline, shedding a important assist stage around $0.544 last November.
Now, as Martinez recognized, the next definitive ground in sight for the Cardano price is around $0.247, which has acted as major assist in the past. In fact, this assist stage kick-started the last rally that noticed the price of ADA attain $1.195.
However, the Cardano price has drifted beneath this assist stage over the past few days, falling to as low as $0.232. With the end of May quickly approaching, it might be fascinating to see whether or not the ADA candlestick ultimately closes below the $0.247 ground over the next day.
Martinez wrote in the X post:
As the month-to-month close approaches, sustaining a place below $0.247 alters the speedy market construction, suggesting a deeper valuation part is underway.
According to the crypto analyst, if the Cardano price sustains its close beneath this historic assist stage, the next “high-conviction macro targets for long-term accumulation” lie around $0.113 and $0.051. Essentially, buyers may see the price drop by almost 78% (from the current price level) if ADA stays below $0.247.
However, it’s value noting that the altcoin may bounce back to around $0.544 if this major channel assist holds and demand returns to the crypto market.
Cardano Price At A Glance
As of this writing, the price of ADA stands at around $0.237, reflecting an over 2% bounce in the past 24 hours.
Stay up to date with the latest trending crypto news! Visit our web site daily for the freshest Crypto news and content, rigorously curated to keep you informed.
