Four Bearish Signals Could Send Cardano to $0.12

A widely followed crypto trader has identified four bearish signals that could push Cardano to new lows, potentially sending ADA’s price to $0.12. Like many other crypto assets, Cardano has faced significant selling pressure in recent weeks. Although ADA revived investors’ hopes earlier this month by climbing to $0.28, it has since dropped 25.7% from that level. Despite the recent correction, prominent analyst and trader Crypto Tice believes Cardano could face further downside. His outlook rests on four bearish signals that suggest sellers remain in control of the market. The first signal is a potential Wyckoff distribution pattern in Phase C, which he interprets as a sign that large market participants could be selling their holdings.

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