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Popular crypto market analyst Ali Martinez has highlighted a critical technical level that could determine Cardano next major price move.
His analysis follows a slight pullback across the broader crypto market, which pushed Cardano’s price from around $0.25 down to roughly $0.24.
Key Points
- Ali Martinez describes $0.243 as a “make-or-break” pivot zone that could determine Cardano’s next trend.
- If buyers successfully defend the $0.243 support, Cardano’s price could soar 23% to $0.30.
- A close below this level could potentially send $ADA’s price down 58% to $0.10.
- Cardano remains below its 50-day SMA near $0.26, with trading volume dropping 19.71% to $471.51 million.
Cardano Returns to Key Pivot Zone
In his latest analysis, Martinez explains that $ADA has returned to a decisive technical level that could shape its next move. Specifically, he identifies the $0.243 zone as a historical pivot point or a “make-or-break level” for Cardano’s trend.
In the past, this level has acted either as strong support that triggers rebounds or as a breakdown point that leads to deeper losses.
If buyers successfully defend this support, the market could stage a relief rally. In that scenario, Martinez projects that Cardano may attempt to recover toward the next major resistance around $0.30, representing a potential gain of about 23% from the pivot zone.
Such a rebound would suggest that investors still view the current price region as an attractive accumulation area.
Breakdown Could Trigger Deeper Losses
However, Martinez warns that a daily close below $0.243 would mark a significant structural failure for Cardano’s price trend.
If the support breaks, market confidence could weaken and trigger a deeper correction. Under that scenario, $ADA could fall toward yearly lows near $0.10, representing a 58% decline from the pivot level.
$ADA Lags Behind Major Cryptocurrencies
Meanwhile, Cardano continues to lag behind larger cryptocurrencies such as Bitcoin and Ethereum. While $ADA gained only 2.12% during the latest market bounce, Bitcoin and Ethereum rose by 5.64% and 9%, respectively.
Following the rally, both Bitcoin and Ethereum moved above their 50-day simple moving averages (SMA). In contrast, Cardano remains below its own 50-day SMA, which currently sits near $0.26.
Moreover, Cardano’s trading activity has started to cool after a brief surge earlier in the week. At press time, $ADA trades at $0.2402, down 1.85% over the past 24 hours and 7.78% over the past week. Similarly, trading volume has dropped 19.71% over the past day to $471.51 million, suggesting a decline in short-term momentum.