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Cardano (ADA) continues its downward trend, currently trading at $0.88. With ADA nearing a key support level, traders are wondering whether the price will stabilize or break down further. Given Bitcoin’s recent struggle at $100K, the entire crypto market is feeling the pressure.

ADA’s price is on a steady decline, now eyeing the strong support at $0.84. This bearish movement aligns with Bitcoin’s latest price dip, causing the entire crypto market cap to shrink by 3.4% in just 24 hours. If selling pressure persists, Cardano could be at risk of deeper losses.

ADA/USDT 1-day chart - Bitget

The $0.84 level is a crucial turning point. If ADA breaks below this support, it could trigger a further decline toward $0.70 and even $0.60. However, technical indicators suggest a possible bullish flag formation. If this pattern holds, ADA could rebound from $0.84 and rally back toward $1.10.

ADA/USDT 1-day chart - Bitget

For now, all eyes are on ADA’s price action around $0.84. A confirmed breakdown could lead to a bearish continuation, while a strong bounce could spark a fresh rally. Traders should watch for Bitcoin’s next move, as it will likely influence ADA’s trajectory.