Veteran Analyst Identifies the Next Key Cardano Support Amid Recent Crash

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.

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.

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.