NewsBTC
27 May 2025
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Elliott Wave Analysis Indicates Potential 50% Price Drop for Cardano

Cardano (ADA) has shown a steady upward trend recently, currently trading at $0.7706, down 0.2% in the last 24 hours. Despite being rejected at the $0.84 level, technical analysis suggests a potential decline to $0.42 in the coming weeks.

Elliott Wave Analysis Indicates Potential Decline

  • The Elliott Wave count indicates ADA is completing a B-wave correction that began between April and June 2025.
  • A sharp decline to around $0.42 is expected, aligning with the 0.786 Fibonacci retracement level.
  • This drop represents a 50% decrease from current levels.
  • The forecast predicts a subsequent bullish Wave 5 could push the price above $1, targeting $1.6.
  • ADA should not fall below $0.40 to maintain the long-term bullish structure.

Cardano

While this bearish forecast is supported by Elliott Wave principles, it is contingent on Bitcoin's performance. A continued rally in Bitcoin could impact ADA's projected decline.