Cardano Plunges 7%: ADA’s Next Stop May Be $0.32
Cardano’s (CRYPTO: ADA) 7% drop means ADA has lost a key support level and may be headed to $0.32 next.
Cardano Weekly Breakdown Signals Shift Into Bearish Distribution
ADA Weekly Price Action (Source: TradingView)
ADA has slipped below the long-standing weekly trendline that supported its past two bull recoveries.
The break shifts the structure into a distribution phase, with price now testing the $0.40 region that served as a launchpad during earlier rallies.
On-balance volume has been declining for months, signaling that long-term holders are reducing exposure instead of absorbing sell pressure.
The weekly RSI sits near 34, showing continued weakness without reaching conditions linked to major reversals.
The broader pattern resembles a multi-quarter symmetrical triangle that has now failed on the downside.
ADA lost its final higher-low anchor near $0.48 and slid into the mid-$0.30s demand band, aligning with earlier cycle pivot levels.
Triangle Failure Points Toward $0.32 To $0.36 Zone
The measured extension of the failed weekly triangle aligns …
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