Cardano Loses Uptrend Channel as Analyst Flags 20% Downside Risk

Ali Martinez highlighted that Cardano has broken below the lower edge of the rising channel it had followed since late June, shifting the technical outlook lower.

During that climb ADA moved from 0.138 up to 0.282 dollars before the break occurred.

The 0.220 dollar zone is now the critical line. If it continues to cap rallies, Martinez sees sellers gaining control and driving the price down toward 0.166.

ADA is currently changing hands near 0.208 dollars.

Based on information from cryptonews.net