Cardano Bear Flag Breakdown Sparks 50% Price Correction Fears
Cardano's price chart shows a bear flag breakdown setup, which could trigger a significant price correction. According to analysts, if Cardano's price rejects current levels, it would initially head toward the lower trendline of the flag, around $0.1744, coinciding with the 0.236 Fib level.
However, losing this support would strengthen the bearish setup and expose the next level near $0.1391, which could bring Cardano back to its June bottom. A decisive breakdown below the rising support trendline would confirm the broader bear flag.
The height of the preceding May-to-June decline applied to the potential breakout point produces a downside target near $0.0979, representing an approximately 50% decline from current prices and pushing ADA below the psychologically important $0.10 level.
Furthermore, Cardano's weekly chart shows an even larger bearish continuation setup, with ADA already breaking below the lower trendline of a multi-year bear flag that developed after the 2021-2022 collapse. This could push the price toward $0.08.