ADA price is not having a great few days, like most other altcoins this week. The token dipped 2% today and is now trading just slightly above $0.16. The broader crypto market is down, with B
ADA price is not having a great few days, like most other altcoins this week. The token dipped 2% today and is now trading just slightly above $0.16. The broader crypto market is down, with Bitcoin dipping near $64,000.
However, there are some interesting Cardano price news to cover today.
Charles Hoskinson argued that Bitcoin’s “frozen in time” governance, not quantum computing itself, is its greatest vulnerability. He contrasted this with Cardano’s on-chain voting system, which he claims can coordinate a timely migration to quantum-resistant cryptography.
Hoskinson also confirmed that Cardano’s upcoming upgrade aims to make the network 60 times faster.
What this means: This is neutral for ADA. It highlights Cardano’s governance model as a theoretical strength but does not translate to immediate adoption or price action. The upgrade is positive for the long-term narrative, but the market is not pricing in fundamentals right now.
Analyst More Crypto Online weighed in on Cardano’s current price action. His take is worth paying attention to.
Cardano is stabilizing around $0.163 , which is the first major downside target. But stabilizing is not the same as bottoming. The price is holding, but there is no confirmation of a reversal yet.
A break above $0.20 would make the wave 4 bounce toward $0.23 and $0.314 more credible. That would be the first real signal that the low might be in.
However, as long as the ADA price stays below $0.20, the third wave could still be extending. The next major level below is $0.092.
The attached 4‑day chart from More Crypto Online shows Cardano’s long-term wave structure.
Source: X/@moretradingonlThe 78.6% Fibonacci retracement at $0.163: Price is currently exactly on this level. That is the first major downside target. The fact that the Cardano price is holding here is constructive, but it does not confirm a bottom.
The wave structure: The chart shows a completed (A)-(B)-(C) correction, followed by a potential wave (ii) bounce. The labels indicate ADA is in a larger corrective phase, with the possibility of more downside before a sustained recovery.
Resistance levels:
Downside targets:
The ADA chart shows a multi-year downtrend since the 2021 peak above $3.00. The current price action is a correction within that larger structure. A break above $0.20 would be the first sign that the correction is ending.
Read also: We Asked Grok and DeepSeek AI to Predict the Price of Bitcoin and Cardano by End of August
The short-term outlook for Cardano is cautious. The price is holding support at $0.163, but stabilizing is not the same as bottoming. The wave structure likely means more downside is possible before a sustainable recovery.
Bullish scenario: If ADA breaks above $0.20 , the next targets are $0.23 and $0.314. That would be the first real signal that the low might be in. This would require a broader crypto market recovery and positive news catalysts.
Neutral scenario: ADA continues to trade between $0.16 and $0.18. Low volume. No clear direction. This is the most likely outcome for the next few days.
Bearish scenario: If ADA loses $0.163 , the next major level is $0.092. That would be a 40% drop from current levels and would signal that the third wave is still extending.
My honest take: I am not buying Cardano here. The chart is bearish. The wave structure points lower. The fundamentals are positive, but the price action is not. I want to see a break above $0.20 before considering a position. Until then, the path of least resistance is lower.
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The post Cardano Price News: Hoskinson Says Bitcoin’s “Frozen” Governance Is Its Biggest Vulnerability appeared first on CaptainAltcoin.
