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Cardano (ADA), after five weeks of non-stop downward pressure, is now at a pivotal point. In a new analysis published June 18, crypto analyst Quantum Ascend (@quantum_ascend) offered a fresh take on ADA’s price structure, warning that the final leg of a downward five-wave Elliott pattern may now be unfolding—with a critical resolution point drawing near.
What is the lowest that Cardano can crash?
“We dropped down into that second wave… and had it highlighted, it bounced from there. So we did call that correctly,” Analyst beganReferring to earlier predictions. He sees that, despite this brief surge, there is a longer-term trend. “It does look like we’re turning this into more of a five-wave move down. So one, two, three, four, and working on a fifth wave now,” He explained this while analyzing the ADA one-day chart.
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Fibonacci Confluence is the foundation of a bearish outlook. Quantum Ascend pointed out that ADA currently hovers around the 0.702 retracement level, with the 0.786 level lying just beneath it—both key zones often associated with deeper corrections in Elliott Wave theory. “Makes complete sense for us to go ahead and drop in right to this area at the very minimum,” He noted.
Yet despite the grim technicals, the analyst maintains that no structural damage has occurred—at least not yet. “As long as we hold the 51 cent level, nothing’s broken, it’s not a problem, right?” He assured.
However, the broader context is not as encouraging. “We need Bitcoin to catch a little bit of a bid or Ethereum or something. We need some kind of good news to come in to alleviate a little bit of this because the market’s just pretty much been bleeding… for over a month now.”
Since early May, ADA’s performance has been below that of its peers. Both sentiment and price have declined. Quantum Ascend urged viewers to not overreact. current downtrend. “All it is is an opportunity to dollar cost average,” He said this before talking about the tiredness many long term holders feel. “I know what you’re saying, QA. I’ve been dollar cost averaging for seven months. I get it. I’ve been there.”
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The analyst advised mental distance rather than obsessing about day-today decisions or panic-selling. “Go do something fun, it’s beautiful, it’s summer. Go do something else, anything else. But this thing is gonna resolve itself and alt season is around the corner,” He said.
Although the chart shows a short-term decline, his conviction for long-term growth remains unshaken. “World War III is not starting. I could not have more conviction in all those things.”
With ADA potentially entering the final leg of a corrective structure and broader markets searching for a catalyst, all eyes are now on whether support zones hold—or if Cardano is headed even lower before the long-awaited resolution Finally, it has arrived.
At the time of publication, ADA was trading at $0.6158.
Featured Image created using DALL.E and chart from TradingView.com
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Source: www.newsbtc.com
