Cardano Price Could Close May Below This Multi-Year Support — What’s Next?
Summary
Cardano has been in a sustained downtrend since last August’s cycle high, giving back early-May gains and falling to levels not seen since 2024. A key monthly support near $0.247 is now the main line to watch. ADA has already slipped below it intraday, and if the month closes under that level, the price could weaken further. The next major downside targets are around $0.113 and $0.051, implying a possible drop of nearly 78% from current levels. If the $0.247 support holds and buying returns, ADA could instead rebound toward the next major channel support near $0.544. Current price is about $0.237, with a modest daily gain.
