Cardano 21% October Drop Signals Further Decline Toward $0.15

Cardano could extend its decline toward $0.1537 as bearish momentum persists, according to top analyst ZenTrades. Taking to X recently, ZenTrades warned that Cardano could plunge further after losing 21% in October and slipping below the $0.20 level. During the decline, ADA broke below the $0.2019 support, signaling a bearish shift in its price structure. The accompanying chart shows ADA trading at $0.1925 at the time the outlook was published. Moreover, ADA remains below $0.21 and $0.24, which corresponds with the 50-day and 200-day EMAs levels, respectively. Meanwhile, the chart identifies $0.1894, which corresponds to the August 30 low, as immediate support. If ADA breaks below this level, it could decline further toward $0.1712, the August 18 low.

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