Cardano rejected from lower trendline after failing to reclaim $0.90 support.
Analyst projects potential correction to $0.62, representing 24% decline.
Fibonacci levels at $0.808 and $0.785 could provide intermediate support.
Market analyst Dan Gambardello has outlined potential downside targets for Cardano following recent price rejections from key technical levels. The analyst examined ADA’s macro setup and identified failed attempts to reclaim crucial support zones.
Gambardello attributes current bearish trends to price manipulation, arguing that forces are suppressing altcoin breakouts despite increasing institutional and nation-state cryptocurrency adoption. He maintains that market conditions should favor higher prices at this stage of the business cycle.
Altcoins REJECTED Again! CRYPTO Tension Reaching A BREAKING POINT…
Intro 00:00Altcoin coiling 2:00itrustcapital 4:50Cardano macro setup 5:45ADA dip target 8:15 pic.twitter.com/N115FmQrKX
— Dan Gambardell
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