Potential impending 6.5% decline for Cardano as $0.90 support falters - Is this a possibility?
Cardano's (ADA) current trading range, according to market predictions, is expected to be between approximately £0.85 and £1.05 in late August 2025. This range indicates that falling below the key support level of £0.90 could place ADA on the lower end of its expected range, potentially reflecting weaker market confidence and limited upward movement unless major positive developments occur.
In the short term, a close below £0.90 could indicate market indecision or weakness, possibly due to a lack of catalyst or a broader crypto market downturn. This could delay bullish momentum and price breakouts above £1, which are needed to fuel larger gains into the £2-£5 range.
Despite this bearish trend, the current on-chain metric flashes mixed sentiment. Each time Cardano has touched the lower boundary of its current range, it has experienced upward momentum. On August 18th, Cardano's price dropped 3.5%, reaching the lower boundary of consolidation at £0.91. However, over the past 24 hours, £25.94 million worth of ADA has been moved out of exchanges, suggesting potential accumulation.
The TD Sequential technical indicator is now flashing a buy signal for Cardano, hinting at a potential price bounce ahead. This is further supported by the Supertrend indicator for ADA, which remains in green and hovers above the price, suggesting that the asset remains in an uptrend.
Data from the on-chain analytics tool Coinglass indicates that investors and long-term holders are accumulating tokens and taking advantage of the price dip. This spike in trading volume suggests a possible shift in market activity for Cardano, with a well-followed crypto expert sharing on-chain data indicating a substantial surge in Futures volume.
Despite the bearish trend, analysts remain optimistic about ADA’s longer-term potential. Forecasts suggest prices ranging from £2 to £5 or even £10 within the next few years if adoption and institutional interest increase significantly. The ongoing network upgrades and new project integrations like Midnight protocol and DeFi partnerships are contributing to bullish long-term outlooks.
In summary, closing below £0.90 represents a cautionary technical signal that could slow down ADA’s expected bullish trajectory temporarily, while closing above it is key to sustaining momentum toward higher price targets predicted by various analysts.
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