Cardano price faces intense selling pressure after a sharp drop, with participants closely watching key support levels to gauge the next market move.
Cardano price just saw a sharp drop that caught many participants off guard. After holding strong for weeks, the sudden fall has left investors wondering if this is just a quick shakeout or the start of a bigger correction.
Heavy Downside Pressure Hits Cardano
Cardano price faced a sharp sell-off, with the price dropping over 21% in the past 24 hours to around $0.64. The move erased multiple support layers, slicing through both the $0.72 and $0.68 zones in a matter of hours. Volume spiked past $4.6B, signaling panic exits and liquidation cascades across leveraged positions.
Cardano price is trading around $0.64, down -21.76% in the last 24 hours. Source: Brave New Coin
From a technical standpoint, ADA Cardano price now sits in oversold territory on the 4H RSI, with a potential stabilization area near $0.60 to $0.58. While short-term bias remains bearish, this kind of flush-out often marks exhaustion phases before a sharp rebound attempt, provided the market finds footing above the $0.60 floor.
Will Cardano Price Recover?
The recent breakdown has pushed Cardano price below its short-term EMA cluster, but buyers are beginning to eye key retracement levels. The $0.67 to $0.70 band remains the first resistance zone to reclaim, followed by a stronger recovery ceiling near $0.75. If bulls regain control here, the technical setup could shift back into a mid-range accumulation phase.
Conversely, failure to rebound from current levels risks a deeper downside, potentially reaching the $0.58 to $0.55 range, where high-volume nodes from earlier consolidations are located. Cardano’s structure, however, still remains encouraging on the higher-time frame.
Sentiment Remains Resilient Among Holders
Despite the flash crash, the Cardano community remains notably optimistic. Analysts like Sssebi highlight that ADA’s pullback could be temporary, projecting a swift recovery toward $0.80 in the next 1–2 weeks. Historically, similar capitulation wicks have preceded strong rebounds, as short-term fear often fuels long-term opportunity.
Cardano holders remain confident despite the crash, with analyst eyeing a quick rebound towards $0.80 as community sentiment stays strong. Source: Sssebi via X
Community sentiment across platforms reflects a firm belief that this drop might serve as a springboard rather than a trend reversal. The network’s active builder base and consistent staking participation continue to underpin faith in Cardano’s long-term structure, even amid high volatility.
Cardano Price Prediction: Impulse Wave Still in Play
The Elliott Wave setup shared by CaptToblerone suggests that Cardano may still be mid-way through a larger impulsive advance. The chart projects the next leg higher, targeting $4 and beyond, assuming the current (B) corrective wave holds. Support rests near $0.58, aligning with a critical Fib retracement that has historically acted as a springboard.
Cardano’s impulse wave is still active, eyeing a potential move toward $4. Source: CaptToblerone via X
A move above $0.80 would validate the wave-3 extension, potentially unlocking a bullish continuation towards $2.00 to $4.00 levels. While ambitious, the structure fits within Cardano’s cyclical behavior, where deep corrections have historically paved the way for expansive upside phases once confidence returns.
Final Thoughts
Despite the sharp decline, ADA’s long-term structure still shows the potential for recovery once momentum stabilizes. Oversold conditions, resilient community confidence, and broader market rotation could all help Cardano find its footing in the coming days.
While volatility remains high, the combination of strong on-chain activity and historical rebound patterns suggests this dip may be more of a reset than a reversal. Participants and long-term holders alike are watching closely, because if sentiment flips, Cardano price could quickly reclaim lost ground and re-enter the broader uptrend.
