Cardano Price Prediction: Falling Channel Triggers Bearish Signal

Cardano's price has been trading near $0.161 after a recent decline in the cryptocurrency market. The total crypto market cap slipped to $2.17 trillion, and Bitcoin held steady around $63,000, while Ethereum hovered close to $1,835.

The Cardano price prediction breaks down its chart structure, which has been trading inside a falling channel since its early July rejection at $0.20. The 20/50 EMA bearish crossover formed inside the channel, indicating a short-term bearish signal.

According to CoinGlass data, derivatives positioning shows a mixed but leaning-long picture. Long positions have absorbed the majority of liquidations over both the 12-hour and 24-hour windows.

The Cardano price forecast also maps out where price could travel if either boundary gives way decisively, using Fibonacci extension levels. A confirmed break below $0.1381 support could open a path toward $0.10 psychological support, based on the 1.618 Fibonacci extension level.