Cardano Price Drops 24% in May, Analysts Predict Further Decline to $0.47

Generated by AI AgentCoin World
Saturday, Jun 28, 2025 4:10 pm ET1min read
ADA
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Cardano's price has experienced a significant decline since the beginning of May, dropping from $0.85 to just above $0.50. This downward trend has been marked by a 24% decrease in value over the past month, according to data from CoinGecko. Despite an initial surge in the second quarter, the token's price has since returned to its April levels, indicating a potential for further decline in the coming weeks.

On June 27, market analyst Ali Martinez shared a bearish prediction for the ADA token's price on the social media platform X. Martinez's analysis suggests that the

Cardano
price could fall to around $0.47, citing a descending channel pattern on the three-day Cardano chart. This pattern is characterized by two major trendlines: an upper line acting as resistance and a lower line acting as support. The formation of a descending channel typically indicates a persistent downward price trend with lower highs, providing traders with optimal entry and exit points.

The Cardano price chart illustrates that the altcoin has been in a downward trend since November of last year. Although the token found support at the lower trendline in early April and briefly rose above $0.80, it failed to break through the upper trendline in early May. Since then, the price has been on a downward trajectory. Martinez predicts that the ADA token could fall to as low as $0.47, around the lower trendline, to find support. Additionally, the 1.272 Fibonacci level, used in technical analysis to identify price targets and support or resistance levels, is also near the lower trendline, suggesting that the Cardano price could fall even lower than its current price point.

As of the latest data, the ADA token is valued at approximately $0.56, reflecting a 1.3% price increase in the past 24 hours. However, the price of Cardano is down by more than 3% over the last seven days, according to CoinGecko data. This ongoing volatility underscores the challenges faced by the Cardano network and its token, ADA, as they navigate the current market conditions.