Analyst Predicts Cardano May Drop to $0.20 in 2026

A crypto analyst has sparked debate with a bold buy plan for Cardano (ADA), suggesting significant future gains. However, market indicators suggest caution in the near term.

Key Points

The analyst, Mr. Brownstone, predicts a possible price surge for ADA, highlighting potential entry points and projecting a five-wave movement that could take ADA to three-digit levels.
ADA recently rose 4% to around $0.67 after a pullback of over 20% in the past two weeks, hitting a low of $0.27 on October 10.
Mr. Brownstone's wave forecast envisions ADA first reaching $0.91, then dropping to $0.42, before surging to $22.89, representing a 3,34% increase from the current price.
The forecast includes further moves to $7.5, $167, and ultimately $572 by 2034, contingent on a dip to $0.20 in early 2026.

Market Sentiment

Current market data shows reduced confidence, with ADA futures Open Interest dropping to a yearly low of $112 million, according to Coinglass.
Open Interest decline indicates fewer new positions, while short bets have increased, reflecting lower trader participation.
ADA corrected nearly 7% last week, trading around $0.65.

Conclusion

The analyst's scenario presents potential high returns, but relies on specific wave patterns and strong buying after a dramatic low. Current market data suggests weaker momentum due to lower participation and higher short interest, indicating caution may be warranted in the short term.