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A prominent market analyst has identified the next key Cardano support level to watch following the recent market-wide crash.
Cardano has remained under pressure as the broader crypto market continues to weaken. At press time, $ADA traded around $0.163 after losing 31% of its value this month alone.
As the decline deepens, Stefan Burns from the More Crypto Online analytics platform recently identified where $ADA could find its next support. Burns believes Cardano is still moving along the bearish path he outlined in earlier market updates, with the price continuing to trend toward the $0.10 region.
Further Cardano Decline Toward $0.09-$0.10
According to Burns, Cardano’s break below the 2023 swing low near $0.22 significantly damaged its long-term market structure. He argued that losing this level strengthened the bearish outlook and increased the likelihood of lower prices ahead.
Burns said his main scenario remains unchanged. He believes $ADA is forming a larger C-wave decline, with the next major downside target sitting between $0.09 and $0.10. He noted that this area matches the 100% Fibonacci extension level and represents the first ideal target for the ongoing C-wave move.
Cardano 1W Chart | More Crypto Online
The analyst also pointed out that the current selloff has not shown any meaningful signs of slowing. As a result, he continues to favor a bearish outlook and expects the downward trend to remain in place.
A Relief Rally Is Still Possible
While Burns expects more downside, he also acknowledged the possibility of a temporary rebound. He explained that a wave 4 bounce could start at any point because C-waves often develop as five-wave structures. Such a move could bring short-term relief before the broader downtrend resumes.
Despite this, Burns stressed that Cardano has repeatedly failed to show enough strength for a lasting recovery. As a result, he believes the chances remain high that the market will make another low before a larger bounce can begin.
Regarding important price levels, Burns identified the $0.10 to $0.09 range as the key support zone. On the upside, he pointed to previous consolidation highs as the main resistance area traders should watch, especially the $0.53 mark, which aligns with the 61.8% Fibonacci level.
Overall, Burns maintained that $ADA remains in a strong downtrend. In his view, the current market structure still favors a move toward the $0.09-$0.10 region as long as bearish momentum continues.
XRP Already Testing Support Near $0.15-$0.16
Another analyst, Drini, explained that the sudden decline toward the $0.15 area has been partly driven by the lack of established price structures at those levels during the past five years.
According to Drini, the first significant support zone sits between $0.15 and $0.16. He noted that Cardano last traded in this area in 2020, making it an important level to watch as the market continues to search for support. Currently, $ADA is testing this area.
Cardano 1W Chart | Drini
Drini added that if Cardano fails to hold this support range, the next likely target could be around $0.09, aligning with the range highlighted by Burns. However, he believes the decline will not happen in a straight line.
He said traders should be prepared for periods of short-term relief and occasional rallies even if the broader downward trend remains intact.
