ADA has fallen by about 3.5% in the last 24 hours, extending its monthly losses to over 27%.
The recent improvement of Midnight failed to change the sentiment, and bearish pressure has returned as the overall market weakens.
On the daily chart, Cardano has broken a bearish continuation structure: the bearish pole and flag structure. The prior consolidation resolved downwards, confirming that sellers remain in control.
This keeps the broader bearish projection active, which still points to a possible drop of nearly 39% from the previous breakout zone.
The first relevant level now is $0.370. This zone has acted as strong support in recent weeks, but the price is already approaching it. A daily close below $0.370 would increase the risk of a drop and place the $0.259 level in focus, aligning with the complete bearish projection.
For Cardano's price to stabilize, selling pressure must decrease near $0.370. To invalidate the bearish trend and regain momentum, Cardano needs to reclaim $0.489, followed by $0.517. These levels mark key Fibonacci resistances and would indicate that buyers are starting to re-enter.
Until then, ADA will remain vulnerable.
