Cardano (ADA) At A Crossroads As Fibonacci Level Indicates Potential Fall To $0.42

Quick Summary:

Ali Martinez warns a daily close below $0.63 would signal a bearish shift in market control at this level paving the way for a further decline.  In this case, Cardano could fall to test the next significant support at the 61.8% Fibonacci retracement level around $0.53.

Cardano Critical Support Break Could Lead To 36% Decline In a recent post on X, Martinez shares a cautionary insight on the current ADA market structure hinting at a potential price fall.

Looking at the chart below, ADA currently trades at $0.66 which is just above the 50% Fibonacci retracement level at $0.63 – a price zone that has acted as a resilient support level in recent weeks.

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Article Details

Author / Journalist: Semilore Faleti

Category: Crypto

Markets: United Kingdom

Topics: Fibonacci retracement levels ADAUSDT Cardano Fibonacci Levels Adausd ADA Ali Martinez

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-05 @ 21:30:24 (1 days ago)

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News Source URL: newsbtc.com

Language: English

Article Length: 404 words

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News ID: 27607114

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