Cardano (ADA) is at risk of an 80% decline as the SuperTrend indicator signals a bearish trend, according to analyst Ali Martinez. The weekly chart has turned negative, reminiscent of a 2021 pattern that led to an 84% drop in ADA's value within three weeks. Currently priced at $0.403, ADA has decreased by 1.23% over the past 24 hours. Martinez warns that if the historical pattern repeats, ADA could fall to $0.064. However, some analysts, such as Quantum Ascend, predict a potential rebound to $0.70. As market risk appetite shifts, traders are monitoring closely for any breakout signals.
Cardano Faces Potential 80% Decline as SuperTrend Indicator Turns Bearish
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