Cardano Price Prediction ADA Falls Below $0.20 as Analyst Warns of Potential Drop to $0.0715
Cardano (ADA) has fallen below $0.20, trading around $0.1936 as analyst KhaldHegazy maintains a bearish outlook that points to potential downside targets of $0.092 and $0.0715. The forecast, first outlined in mid-October and reaffirmed on October 30, suggests the cryptocurrency could extend its prolonged decline if the projected price pattern continues.
The latest move has kept attention on the analyst's weekly chart, which identifies a possible final downward wave following an extended bearish structure that began in late 2024. However, the targets remain a technical forecast rather than a confirmed outcome.
Cardano Chart Signals Further Downside Risk
KhaldHegazy's wave-count analysis indicates that ADA has completed a penultimate wave labeled XX and may now be approaching what the analyst considers the final bearish wave. The interpretation forms the basis of his expectation that Cardano could continue moving lower.
The chart identifies a resistance zone between $0.24 and $0.30, marked as “Test.” KhaldHegazy also set $0.2851 as the level that would invalidate his bearish projection if ADA recovered above it.
ADA traded near $0.28 earlier in October before reversing lower. The token has since fallen beneath the highlighted resistance area and reached approximately $0.1936, leaving the analyst's downside scenario in focus.
ADA Price Targets Point to Potential 52%–63% Losses
The first downside target in KhaldHegazy's forecast is $0.092. If ADA breaks below that level, the analyst's chart points to a deeper target of $0.0715, close to the historical low of $0.0693 marked on the chart.
Using a reference price of $0.1933, a decline to $0.092 would represent a loss of approximately 52%. A move to $0.0715 would extend the potential decline to about 63%.
These figures illustrate the scale of the bearish scenario, but they depend on future price movements and do not establish that either target will be reached. A recovery above $0.2851 would invalidate the analyst's stated projection.
Binance-Related Hack Adds to Cryptocurrency Market Pressure
Cardano's latest weakness comes amid a broader cryptocurrency market pullback following reports of a $6.3 billion Binance-related hack. Bitcoin, Ethereum and other major digital assets have also recorded losses as concerns about the incident weighed on market sentiment.
At the time reported in the source material, ADA was down 2.26% over 24 hours. Bitcoin had declined 1.69%, while Ethereum had fallen 2.01% over the same period.
Cardano had also lost 21% over the previous month, highlighting the token's sustained downward momentum. Whether ADA reaches the analyst's lower targets will depend on subsequent price action, while $0.2851 remains the stated invalidation level for this particular bearish outlook.
source: thecryptobasic
Writer: Ethan Collins
Crypto Journalist
Ethan Collins reports on developments across the cryptocurrency and blockchain sector. His work covers market movements, protocol updates, regulatory changes, and emerging trends in digital assets.
He focuses on presenting complex topics in a clear and accessible manner for a broad readership.
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