How Low Can Cardano Go? Analyst Maps Final Crash Before Resolution
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After more than five weeks of unrelenting downside pressure, Cardano (ADA) finds itself approaching a potentially decisive juncture. In a new analysis published June 18, crypto analyst Quantum Ascend (@quantum_ascend) offered a fresh take on ADA’s price structure, warning that the final leg of a downward five-wave Elliott pattern may now be unfolding—with a critical resolution point drawing near.
How Low Can Cardano Crash?
“We dropped down into that second wave… and had it highlighted, it bounced from there. So we did call that correctly,” the analyst began, referencing earlier predictions. But despite the brief bounce, he now sees a more extended impulse playing out. “It does look like we’re turning this into more of a five-wave move down. So one, two, three, four, and working on a fifth wave now,” he explained while analyzing the one-day chart of ADA.
At the core of the bearish outlook is Fibonacci confluence. Quantum Ascend pointed out that ADA currently hovers around the 0.702 retracement level, with the 0.786 level lying just beneath it—both key zones often associated with deeper corrections in Elliott Wave theory. “Makes complete sense for us to go ahead and drop in right to this area at the very minimum,” he noted.
Yet despite the grim technicals, the analyst maintains that no structural damage has occurred—at least not yet. “As long as we hold the 51 cent level, nothing’s broken, it’s not a problem, right?” he reassured.
The broader context, however, is less encouraging: “We need Bitcoin to catch a little bit of a bid or Ethereum or something. We need some kind of good news to come in to alleviate a little bit of this because the market’s just pretty much been bleeding… for over a month now.”
ADA has underperformed relative to its peers since early May, with sentiment sliding alongside price. But Quantum Ascend encouraged viewers not to overreact to the current downtrend. “All it is is an opportunity to dollar cost average,” he said, before addressing the exhaustion many long-term holders are feeling. “I know what you’re saying, QA. I’ve been dollar cost averaging for seven months. I get it. I’ve been there.”
Rather than panic-sell or obsess over day-to-day moves, the analyst recommended mental distance and patience. “Go do something fun, it’s beautiful, it’s summer. Go do something else, anything else. But this thing is gonna resolve itself and alt season is around the corner,” he said.
Despite short-term bearishness in the chart, his long-term conviction remains intact. “World War III is not starting. I could not have more conviction in all those things.”
With ADA potentially entering the final leg of a corrective structure and broader markets searching for a catalyst, all eyes are now on whether support zones hold—or if Cardano is headed even lower before the long-awaited resolution finally arrives.
At press time, ADA traded at $0.6158.
Featured image created with DALL.E, chart from TradingView.com
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