Cardano Price Prediction: SuperTrend Indicator Flips Bearish – 80% Crash If This Happens Next
Crypto analyst Ali Martinez flagged a key warning sign as the SuperTrend indicator just flipped bearish on the weekly chart.
The last time this happened, ADA plunged by 80%, raising concerns that a deeper drop could be on the horizon.
The previous weekly SuperTrend flip occurred in early December 2021, shortly after Cardano printed three consecutive weekly red candles.
At that point, ADA traded near $1.38. Over the following months, Cardano fell by roughly 84% to lows near $0.22 in June 2023.
ADA Price Analysis: Is an 80% Drop Possible?
Cardano is trading within a descending channel. Despite the warning signs discussed by Martinez, not all analysts expect a deep crash.
Some argue that Cardano trades near the lower boundary of a multi-year channel and may already reflect worst-case expectations.
Source: TradingView
Comparisons have emerged with the early phase of the 2020 cycle, when prices shot up after a long period of back-and-forth action.
Quantum Ascend has pointed to this structural similarity. His conservative projection places ADA above $5, with an extended target near $10 if momentum builds across the broader market.
Captain Faibik has also talked about the current zone as a favorable accumulation area, with a medium-term recovery target near $0.70.
From the current price near $0.40, an 80% decline would place Cardano near $0.064, a level last seen during early 2020.
Such an outcome would require catastrophic market weakness and sustained risk-off conditions.
Luckily, the technicals indicate an extended cool-off, rather than a complete sell-off.
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nextThe post Cardano Price Prediction: SuperTrend Indicator Flips Bearish – 80% Crash If This Happens Next appeared first on Coinspeaker.
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