The Crypto Basic

#XRP has fallen below the lower boundary of its latest trading range, placing the asset inside a deviation zone that closely resembles the structure formed before its powerful August recovery.
XRP trades around $1.18-$1.19 after another sharp market-wide decline. The daily structure now places price below the recent range floor near $1.24-$1.25 but still above a key technical level at $1.1404.
The setup remains constructive only if XRP can turn the current breakdown into a temporary deviation and eventually reclaim the lost range. Until then, lower prices remain possible.
XRP Previously Reclaimed a Similar Deviation Before Surging
The larger structure begins with a broad range whose lower boundary sits near $1.10 and whose upper boundary extends toward approximately $2.40.
During June, XRP lost the lower boundary of that range and entered the shaded deviation area below support. Selling eventually pushed price close to $1, substantially beneath the former range floor.
Instead of continuing lower, XRP recovered.
Price reclaimed the range during August and then accelerated sharply, reaching approximately $1.70. From a low near $1, that represented an advance of roughly 70%.
That earlier recovery is important because XRP has now entered a similar—but smaller—structure.
Previous The Crypto Basic analysis has also identified the $1.10-$1.29 region as an important XRP support zone.
XRP Is Now Deviating Below a Smaller Range
After the August breakout, XRP established another range between roughly $1.24-$1.25 and $1.70.
The $1.70 area became the range high after several September attempts failed to produce a sustained breakout. XRP subsequently formed lower highs through October before returning to the bottom of the structure.
Price has now fallen below that range floor.
The highlighted deviation area extends from approximately $1.24 toward $1.1404, with XRP currently trading inside it.
From the chart reference price near $1.1863, reaching $1.1404 would require another decline of approximately 3.9%.
Below that, the larger range low near $1.10 becomes increasingly important.
This aligns with recent analysis showing that XRP’s downside structure could extend toward $1.10 if current support fails.
Reclaiming $1.24-$1.25 Would Change the Setup
The bullish interpretation does not depend on XRP simply touching the deviation zone.
Price needs to reclaim the former $1.24-$1.25 range low.
Such a move would suggest the breakdown was temporary, similar to the June-August deviation. Holding back above that level would then put the middle and upper portions of the recent range back into focus.
The major upside reference is around $1.70, the latest range high.
From $1.1863, a recovery to $1.70 would represent roughly 43% upside.
Beyond that, the broader structure identifies another important level near $2.0972, followed by the larger range high around $2.40. These become relevant only after XRP first recovers $1.24-$1.25 and then clears $1.70.
Recent derivatives data also shows why the immediate downside remains important, with heavy long-liquidation exposure concentrated below current XRP prices.
$1.14 Is the Immediate Test
The current setup therefore hinges on two levels.
$1.1404 represents the next important support inside the deviation zone. Holding above that area would preserve the possibility that XRP is repeating the earlier range-reclaim structure.
A deeper loss of $1.14 would expose the larger range floor around $1.10 and weaken the comparison considerably.
On the upside, $1.24-$1.25 must be reclaimed before the structure becomes meaningfully bullish again.
For now, XRP is trading where a deviation-and-reclaim setup could develop. The next observable test is whether buyers can defend $1.14-$1.10 and force price back above $1.24-$1.25.
#CryptoNews🚀🔥V

#Cardano could be approaching the final stages of an extended correction, with analyst Mohamad identifying $0.10 as a potential price floor before the coin stages a significant recovery.
Mohamad believes Cardano’s prolonged weakness does not necessarily signal the end of its market prospects. Instead, he views the nearly five-year correction as a necessary setback that could prepare ADA for a much larger upward move.
Mohamad Sees Extended Correction as Preparation for Recovery
In his analysis, Mohamad acknowledged that many market participants have written off Cardano, describing the cryptocurrency as dead after years of disappointing price performance. However, he believes the ongoing correction could eventually create the foundation for a substantial recovery.
The analyst particularly highlighted the second wave of Cardano’s Elliott Wave structure, describing it as extremely erosive. He compared this prolonged correction to Shiba Inu’s price behavior, suggesting that ADA has endured sustained downward pressure before reaching the next major phase of its market cycle.
For context, Shiba Inu reached an all-time high of $0.00008845 in October 2021 but has since declined 94.66% to approximately $0.000004727.
Mohamad Sets $0.10 as Cardano’s Potential Bottom
Mohamad’s monthly TradingView chart provides further insight into his bearish outlook and long-term expectations.
The chart tracks Cardano’s price movements from 2018 through November 2026, using Elliott Wave Theory to map its broader market structure. It identifies an initial five-wave upward impulse, followed by a corrective sequence consisting of waves A, B, and C.
Following its previous bull-market advance, ADA entered an extended correction. However, Mohamad’s wave count suggests that the cryptocurrency is now approaching the completion of this broader corrective phase.
Notably, his chart identifies $0.1072 as a major horizontal support level, aligning closely with his assessment that Cardano could establish its bottom around $0.10.
With ADA trading around $0.1973 on the monthly chart, a decline to $0.1072 would represent another 45.66% correction.
Despite this bearish near-term projection, Mohamad maintains an optimistic long-term outlook. He views the extended correction as a potential foundation for a significant recovery rather than evidence of Cardano’s permanent decline.
Another Analyst Warns of Further Declines for ADA
Meanwhile, crypto analyst KhaldHegazy has maintained a similarly bearish outlook for Cardano, drawing on Elliott Wave Theory and volume analysis.
He observed that ADA has followed a prolonged downward trend characterized by weak buying pressure. His initial technical assessment identified a bearish market structure, which has continued to play out as the cryptocurrency declined 22% from the October 2026 high since his initial analysis.
His accompanying chart highlights Cardano’s breakdown after failing to sustain its previous local highs. ADA retreated from an intermediate peak, entered another corrective phase, and eventually slipped below $0.2200 to $0.1973.
According to KhaldHegazy, the lack of convincing buying pressure makes a sustained recovery unlikely at this stage. Consequently, he wants to see ADA establish a clear bottom before considering a potential reversal.
He also intends to monitor trading volume and price action for evidence of renewed buying interest and an improvement in market structure. Until such confirmation emerges, he plans to maintain his bearish stance.
Notably, KhaldHegazy has previously identified two potential downside targets for ADA, such as $0.0920 and $0.0715. These levels suggest that Cardano could face further substantial losses if the current bearish structure persists and buyers fail to establish meaningful support.
#CryptonewswithJack

#XRP price is struggling, even as Ripple makes progress through new partnerships, financial services, and regulatory approvals.
Versan Aljarrah, founder of Black Swan Capitalist, recently highlighted this disconnect. He noted that XRP was trading around $1.30, about 65% below its July 2025 high of $3.65.
Meanwhile, amid the harrowing price drop, Ripple has been expanding its business and attracting major financial institutions.
In a post on X, Aljarrah said, “The price and the progress are moving in opposite directions. That doesn’t happen forever.”
His point is that Ripple is making progress, but XRP’s price has not reflected that growth. However, he believes the price and fundamental progress will ultimately align.
Ripple Is Making Progress
Indeed, several major developments have strengthened Ripple’s position in the financial industry.
Bank approval: On October 26, the Office of the Comptroller of the Currency (OCC) gave final approval for Ripple National Trust Bank. The bank will help manage the reserves backing Ripple’s RLUSD stablecoin and provide digital asset custody services.Coinbase partnership: Coinbase added RLUSD to Coinbase Prime, Coinbase Exchange, and its retail app, allowing customers to trade and manage the stablecoin.Robinhood partnership: Ripple announced an alliance with Robinhood to make RLUSD available on Robinhood Chain and Bitstamp, with plans for further expansion.BNY partnership: BNY expanded its relationship with Ripple to support XRP and RLUSD through its digital asset custody services. Both companies also plan to explore tokenized trade finance.DTCC tokenization: The Depository Trust & Clearing Corporation (DTCC) launched a service that allows traditional financial assets to be represented digitally. However, there is no confirmation that this service uses the XRP Ledger.
These developments show that Ripple is expanding its presence in traditional finance, even if they do not directly benefit XRP.
Does Ripple Growth Actually Help XRP Price?
Aljarrah believes the market has not fully recognized the progress being made. However, he also admitted that positive developments cannot stop XRP from falling during a wider crypto market downturn.
He cautioned that these developments could take years to have a noticeable impact on XRP’s price. Investors using leverage could suffer losses while waiting for adoption to grow.
Other members of the XRP community have also questioned the connection between Ripple’s progress and XRP’s value. One user, Mr Swell, argued that if XRP’s price directly reflected its real-world usefulness, its historical performance should have shown a stronger connection.
His view is that Ripple becoming more successful does not necessarily mean XRP will become more valuable. For example, RLUSD can operate on multiple blockchains, which means its growing adoption does not automatically create more demand for XRP.
Fred Martinez disagreed with this criticism and supported Aljarrah’s position. He argued that the market still treats XRP mainly as a speculative investment instead of recognizing its potential role in financial infrastructure.
He believes investors should focus on long-term developments, not daily price movements.
Will XRP Price Eventually Catch Up?
The big question is whether Ripple’s growing business will eventually translate into higher demand for XRP. Ripple is building relationships with major financial institutions and expanding its services in stablecoins, digital asset custody, and tokenization.
But not every Ripple partnership directly involves XRP. Some developments focus on RLUSD or other financial services, while others involve blockchain technology that is not necessarily connected to the XRP Ledger.
For XRP’s price to benefit significantly, these developments would need to create stronger demand for the token itself. Aljarrah believes that the market may eventually recognize the value of Ripple’s growing ecosystem. But that process could take years.
#CryptoNewsCommunity

Crypto analyst Ali Martinez has identified a potential trend reversal setup for #Cardano , naming ADA alongside Ethereum and Solana as assets to lead the next altcoin rally.
According to Martinez, all three cryptocurrencies have suffered double-digit declines from their October 2026 peaks. However, Cardano has recorded the steepest losses among the three assets.
Specifically, ADA plunged 35.41% from its October high of $0.2822 to $0.1823. Meanwhile, Ethereum dropped 22% to $2,171, while Solana declined 27.31% to $90.78.
Despite Cardano’s sharper correction, Martinez highlighted fresh buy signals on its three-day chart, suggesting that the selling pressure could be weakening and a potential recovery may be approaching.
Cardano Flashes Buy Signals on Three-Day Chart
Martinez pointed to a fresh 9 signal and a Sequential 13 buy signal on Cardano’s three-day chart. Both signals are associated with the Tom DeMark Sequential indicator, which traders use to identify potential trend exhaustion and possible price reversals.
The chart shows ADA declining from $0.28 in early October to around $0.19 in early November. However, the appearance of these signals near the recent lows suggests that the ongoing downtrend could be losing momentum.
Near-Term Price Targets for ADA
Martinez identified $0.2268 as the first key level to watch if buyers regain control. From the $0.1915 reference price, this target represents a potential gain of 18.43%.
If ADA breaks above that level, the analyst’s chart points to another resistance area around $0.2677. Reaching this level would represent a potential gain of 39.79% from $0.1915.
These targets would mark significant recovery milestones for Cardano following its steep October decline. However, ADA must overcome the intervening resistance levels before either target comes into focus.
Analysts Debate Cardano’s Next Major Rally
Martinez’s outlook comes amid growing speculation about whether a broader altcoin rally could be approaching. However, analysts remain divided over the likelihood of a sustained recovery.
Earlier, crypto pundit Nebraskan Gooner urged traders to exercise caution, highlighting how far major altcoins remain below their previous all-time highs. He noted that Cardano would need to rally more than 16 times from its recent price levels to reclaim its $3.10 peak.
Conversely, analyst 360Trader identified similarities between Cardano’s current price structure and the setup that preceded its roughly 2,000% rally during the 2021 bull cycle.
Nonetheless, 360Trader stressed that ADA must quickly reclaim the $0.25 level to strengthen his confidence in a potential major rally. This makes $0.25 another important level for traders to monitor as Cardano attempts to recover.
#CryptoNews🚀🔥V

Bitcoin has entered the post-2026 U.S. midterm period near $77,000, bringing back a historical pattern that saw BTC establish a lower price after each of the previous three midterm elections before eventually recovering.
The 2026 U.S. midterm election took place on Nov. 3, with Bitcoin closing that day around $77,345.
The long-term comparison places the 2014, 2018, 2022 and 2026 midterms on Bitcoin‘s logarithmic price chart. What stands out is how quickly BTC reached a notable low after each completed election cycle: 71 days after the 2014 vote, 39 days after 2018, and just one day after the 2022 election.
The pattern does not mean Bitcoin must immediately bottom after the 2026 vote, but the previous cycles show that midterm periods have coincided with important market turning zones.
Bitcoin Fell 46% After the 2014 Midterms
The 2014 U.S. midterms took place on Nov. 4, when Bitcoin traded around $330.49.
BTC did not bottom immediately. Instead, the decline continued for another 71 days, eventually reaching approximately $178.10 on Jan. 14, 2015.
From the election-day price, that represents a decline of approximately 46.1%.
The chart therefore captures the 2014 election during an established bear market rather than at the exact bottom.
However, the story changed over the following year. A previous The Crypto Basic review of Bitcoin’s post-midterm history found that Bitcoin was 24.5% higher 12 months after the 2014 midterms.
Bitcoin Lost Nearly 50% After the 2018 Vote
The most severe immediate post-election decline came in 2018.
Bitcoin closed around $6,461 on Nov. 6, 2018, before falling to approximately $3,237 by Dec. 15, 39 days later.
That equates to a decline of roughly 49.9%.
The 2018 example is particularly important because it shows why the midterm pattern should not be interpreted as an immediate bullish signal. Bitcoin lost almost half its value before establishing the bear-market bottom.
Yet BTC was still 44.9% higher 12 months after the election, according to the same historical comparison.
2022 Bottom Arrived Much Faster
The 2022 midterms produced a very different timeline.
Bitcoin was worth approximately $18,541 on Nov. 8, election day, before dropping to about $15,881 on Nov. 9.
That was a 14.3% decline in one day, matching the chart’s marker for an immediate post-election low.
There is one important nuance: Bitcoin later recorded a slightly lower intraday cycle low near $15,479 on Nov. 21, as the FTX crisis continued to pressure the market.
Still, most of the decline occurred almost immediately around the election period.
Bitcoin subsequently reversed course, with the asset posting a 92.3% gain over the 12 months following the 2022 midterms.
Post-Midterm Lows Have Arrived Faster Each Cycle
The chart highlights an unusual progression:
2014: low after 71 days, roughly -46.1%2018: low after 39 days, roughly -49.9%2022: initial low after 1 day, roughly -14.3%
At the same time, Bitcoin finished the subsequent 12-month period higher after all three elections: +24.5%, +44.9% and +92.3%, respectively.
That creates two very different historical lessons.
Midterms have previously occurred close to major Bitcoin bear-market turning points, but buying immediately after the vote would have exposed investors to substantial additional downside in both 2014 and 2018.
The sample is also limited to only three completed Bitcoin midterm cycles, making it too small to establish a dependable seasonal rule.
What the 2026 Setup Looks Like
The chart places Bitcoin around $78,100 near the 2026 election marker. CoinMarketCap’s completed Nov. 3 session closed somewhat lower at $77,345, while BTC remains around the $77,000 region on Nov. 4.
That comes after Bitcoin recently lost important short-term support. The latest The Crypto Basic Bitcoin price analysis identified weakness below $77,000 with momentum approaching oversold territory.
Bitcoin has also just absorbed the $6.3 billion Binance hack and heavy ETF selling, adding another variable that was absent from previous election cycles.
History therefore puts the post-midterm period in focus, but it does not establish that the 2026 low is already in.
The next question is whether Bitcoin can stabilize around the current $76,000-$77,000 region or whether the fourth midterm cycle will again require a deeper post-election decline before a durable recovery begins.
Bitcoin Price Prediction 12 Months After 2026 U.S. Midterms
Bitcoin’s previous U.S. midterm cycles suggest the market could still face another post-election decline before a broader recovery develops into 2027.
BTC is trading around $76,500, close to its Nov. 3 election-day closing price of approximately $77,345. Using that election-day close as the reference point, previous midterm-cycle declines and subsequent 12-month recoveries produce several possible price scenarios.
$60,000-$66,000 Emerges as the Main Downside Scenario
The more moderate historical setup places Bitcoin between $60,000 and $66,000 before a stronger recovery develops.
The three previous post-midterm declines were 46.1% in 2014, 49.9% in 2018 and 14.3% in 2022. At the same time, the period needed to reach an important post-election low compressed sharply from 71 days in 2014 to 39 days in 2018 and just one day in 2022.
If that tendency toward faster post-election lows continues, the most important window for Bitcoin could fall between November and early December 2026.
Applying the 2022 decline of 14.3% to the $77,345 election-day close produces a price near $66,300, making this the first history-derived downside level.
A more severe correction toward $50,000-$55,000 would require the current cycle to resemble the deeper declines seen in 2014 and 2018.
The simple average of the three previous post-midterm declines is approximately 36.8%. Applying that decline to $77,345 produces a price near $48,900. This represents a bearish stress scenario rather than the central case, particularly because the 2014 and 2018 observations occurred during markedly different market conditions.
Bitcoin Could Target $110K-$120K Within 12 Months
The post-midterm recovery record has been more consistent.
Bitcoin was higher 12 months after each of the three previous midterm elections, gaining 24.5% after 2014, 44.9% after 2018 and 92.3% after 2022.
The median of those three returns is 44.9%. Applying that gain to the 2026 election-day price would place Bitcoin around $112,100 by November 2027.
The average 12-month return is approximately 53.9%, which would put BTC near $119,000.
This creates a broader historical scenario with four areas to watch:
Potential post-midterm low: $60,000-$66,000
Bearish stress case: $49,000-$55,000
November 2027 base range: $110,000-$120,000
Bullish historical-repeat scenario: $145,000-$150,000
Importantly, none of the previous three midterm cycles produced an uninterrupted rally immediately after election day. Bitcoin first traded below its election-day price before eventually recovering.
If 2026 develops along a similar broad path, another correction could precede the stronger move into 2027. However, only three completed midterm cycles are available, so these levels should be treated as historical price scenarios rather than statistical forecasts.
#CryptoNewsFlash

Monero clears resistance as XRP retreats below $1.27 and Chainlink weakens. November 4 analysis covers ETH, XRP, XMR, LINK and PEPE with key levels and charts.
Ethereum’s RSI Improves but the Recovery Remains Below $2,279.80
Ethereum closed Tuesday at $2,271.45, up 0.98%, after trading between $2,237.46 and $2,304.60. The entire session stayed within Monday’s range, so the gain did not establish a breakout above the preceding daily high.
The latest $2,244.05 price was 2.70% below the price recorded in our November 2 analysis. That report identified $2,279.80 as an important recovery level. Tuesday traded above it but finished below it, leaving the reclaim unconfirmed on the daily chart.
The daily 14-period Relative Strength Index, calculated with Wilder smoothing, rose to 36.57 from 33.11. Selling momentum eased, but RSI remained below the neutral 50 level. The last completed four-hour reading was 49.60, also short of a clear bullish momentum signal.
A daily close back above $2,279.80 would improve the recovery. Clearing Monday’s $2,314.32 high and the nearby $2,319.54 resistance would provide stronger confirmation. Conversely, losing the $2,233.51–$2,237.46 support area would expose October 30’s $2,170 low. A daily close beneath $2,170 would invalidate the recovery from that low.
XRP Breaks Above $1.27 Before Giving Back Part of the Advance
XRP closed Tuesday at $1.27496, gaining 2.16%, after reaching $1.28923. That close cleared Monday’s $1.26254 high and October 30’s $1.27214 high, improving the daily structure. However, the latest $1.26 price had already slipped back beneath both levels during Wednesday’s unfinished session.
The move also followed the $1.23–$1.27 compression zone highlighted by The Crypto Basic. The four-hour candle ending November 3 at 16:00 UTC closed at $1.27871, above $1.27 and its upper Bollinger Band. The next two four-hour candles also closed above $1.27, confirming the initial short-term break before the latest retreat.
Daily Bollinger Bands, calculated from a 20-day simple moving average and two population standard deviations, show a less advanced recovery. Tuesday closed below the $1.29547 midpoint, which continued to fall. The lower and upper bands stood at $1.22798 and $1.36296.
A renewed hold above $1.27214 would restore the immediate breakout area. A daily close above $1.28923 would then put the midpoint near $1.29547 in focus. Failure to hold Tuesday’s $1.24333 low would weaken the recovery and expose $1.23364, followed by the lower band. A daily close below October 30’s $1.19685 low would invalidate the broader stabilization attempt.
Monero Confirms a Break Above the Prior Resistance Cluster
Monero closed Tuesday at $629.86, up 4.27%, after a $602.20–$636.90 session. The close cleared $609.88, $614.90 and $618.56, the successive recovery obstacles identified in Tuesday’s price analysis. Unlike Monday’s intraday advance, this move held above those levels at the daily close.
The daily moving averages support the improving structure. The 20-day exponential moving average rose to $592.82 from $588.92, while the 50-day EMA increased to $561.54 from $558.75. Price remained above both, with the faster average already above the slower one. This is an existing bullish alignment, rather than a newly confirmed crossover.
The latest $624.94 price had eased from Tuesday’s close but remained above the reclaimed resistance cluster. Holding that area would preserve the strongest part of the breakout.
A daily close above the $636.90–$638.87 resistance zone would strengthen the case for a test of $649.40, followed by the October 22 high at $656.74. A return below $614.90 would weaken the breakout, with Tuesday’s $602.20 low and Monday’s $596.76 low providing subsequent support. A daily close below October 30’s $572.49 low would invalidate the broader rebound.
Chainlink’s Bearish MACD Gap Widens as Price Slips Below $11
Chainlink closed Tuesday at $11.01603, down 0.78%, recording its third consecutive daily decline. The $11.28905 high was below Monday’s $11.42552 high, while the session low of $10.99545 remained just above Monday’s $10.97921 floor.
The latest $10.74 price was below both lows. That represents further weakness during the active session, but Wednesday has not yet confirmed a daily close beneath them.
Daily MACD, using 12- and 26-period exponential averages with a nine-period signal EMA, remained bearish. The line stood at −0.42178 against a −0.38648 signal. The histogram widened below zero to −0.03529 from −0.03302. This was deterioration within an existing bearish relationship, not a fresh line-signal crossover.
The latest completed four-hour candle also carried a negative histogram, at −0.02761, indicating that short-term momentum had not reversed by the technical cutoff.
Reclaiming $10.97921–$10.99545 would be the first repair. A daily close above $11.28905 would challenge the latest lower high, with $11.42552 the next confirmation level. Continued trading below the broken floor would leave October 29’s $10.51969 low exposed. Beneath that, October 30’s $10.25 low is the main support; a daily close below it would invalidate the rebound from that base.
PEPE Rebounds but Daily Volume Remains Below Average
PEPE closed Tuesday at $0.000004858, gaining 1.93%, after trading between $0.000004651 and $0.000005012. It formed a higher high and higher low than Monday, but finished below Monday’s $0.000004986 high. The intraday recovery therefore lacked a closing breakout above that earlier resistance.
Trading participation was also relatively light. Turnover in the chart’s USD market reached 519.78 billion PEPE, compared with a preceding 20-session average of 844.28 billion. Volume was approximately 38% below that average and 30% below Monday’s total. The price recovery is visible, but participation did not expand alongside it.
The latest $0.00000481 price remained below Tuesday’s close despite a 2.40% gain over the past 24 hours. Those figures cover different periods.
A daily close above $0.000005012 would clear Tuesday’s high, bringing $0.000005055–$0.000005095 into view. A stronger recovery would need to overcome that zone before challenging October 30’s $0.000005317 high. Losing $0.000004651 would weaken the higher-low formation, with $0.000004586 next. A daily close below October 30’s $0.000004292 low would invalidate the broader rebound.
#CryptonewswithJack

An analysis from a digital asset researcher suggests that #Cardano could be gearing up for a potential recovery to $0.23 following ADA’s rebound above a crucial support.
In a technical analysis shared by its digital asset research arm, More Crypto Online highlighted Cardano’s rebound around the $0.1824 support level. The accompanying four-hour chart shows that the bounce occurred near the 61.8% Fibonacci retracement level of the preceding decline.
However, the researcher cautioned that the rebound alone does not confirm a market bottom, as ADA must overcome several resistance levels to strengthen its recovery prospects.
ADA Faces Resistance Between $0.1953 and $0.2039
More Crypto Online identified the $0.1953 to $0.2039 range as ADA’s next major hurdle. This zone corresponds to the 38.2% and 61.8% Fibonacci retracement levels of Cardano’s latest decline.
Consequently, ADA must demonstrate sustained strength within this range to establish whether the rebound can develop into a more prolonged recovery.
A decisive break above $0.2039 would improve the short-term outlook and bring the next resistance at $0.209 into focus, according to More Crypto Online. Beyond that level, ADA could target the broader resistance zone around $0.2302, aligning with the potential recovery target of $0.23.
Meanwhile, Cardano currently trades at $0.1874, requiring a 22.83% gain to reach $0.2302. ADA last traded around this level in late October before mounting bearish pressure pushed the token below $0.20.
The broader crypto market downturn has continued to weigh on the asset. At press time, ADA has declined 1.48% over the past 24 hours, highlighting the challenges it faces in sustaining its latest rebound.
ADA Risks Another Decline if Support Fails
On the downside, More Crypto Online identified the $0.1617 to $0.1824 region as a broader support area if selling pressure resumes. Therefore, ADA’s ability to defend the $0.1824 level could prove crucial to maintaining the recovery attempt.
Although the rebound offers some encouragement, the researcher emphasized that a bounce from a Fibonacci level does not establish a definitive market low. Instead, ADA must sustain its upward momentum and overcome the overhead resistance zone to strengthen the bullish outlook.
Meanwhile, another analyst, KCM, has warned that a significant supply wall could intensify bearish pressure on Cardano. The analyst identified a substantial sell-order block between $0.1949 and $0.1970, suggesting that the selling pressure in this region could push ADA back toward $0.1824.
However, ADA’s performance in the coming days remains uncertain as investors await the outcome of the U.S. midterm elections, which could influence broader market sentiment.
#CryptoNewsFlash