Cardano's ADA Price May Plummet by Up to 50% Due to Bearish Technical Patterns

Cardano's ADA token is displaying two bearish technical patterns - a bear pennant and a broader bear flag. These patterns suggest potential further price declines for ADA, with the potential to drop by as much as 50% from current levels.

A break below $0.15 could confirm the bear pennant, targeting a drop to around $0.075-$0.08. Meanwhile, the bear flag pattern suggests a more conservative downside target near $0.096, about 40% lower.

However, a sustained move above $0.19-$0.20 would weaken these bearish setups and could signal a reversal of fortunes for ADA.