Cardano Price Prediction: SuperTrend Indicator Flips Bearish – 80% Crash If This Happens Next

Crypto analyst Ali Martinez flagged a key warning sign as the SuperTrend indicator just flipped bearish on the weekly chart.

The last time this happened, ADA plunged by 80%, raising concerns that a deeper drop could be on the horizon.

The previous weekly SuperTrend flip occurred in early December 2021, shortly after Cardano printed three consecutive weekly red candles.

At that point, ADA traded near $1.38. Over the following months, Cardano fell by roughly 84% to lows near $0.22 in June 2023.

ADA Price Analysis: Is an 80% Drop Possible?

Cardano is trading within a descending channel. Despite the warning signs discussed by Martinez, not all analysts expect a deep crash.

Some argue that Cardano trades near the lower boundary of a multi-year channel and may already reflect worst-case expectations.

Source: TradingView

Comparisons have emerged with the early phase of the 2020 cycle, when prices shot up after a long period of back-and-forth action.

Quantum Ascend has pointed to this structural similarity. His conservative projection places ADA above $5, with an extended target near $10 if momentum builds across the broader market.

Captain Faibik has also talked about the current zone as a favorable accumulation area, with a medium-term recovery target near $0.70.

From the current price near $0.40, an 80% decline would place Cardano near $0.064, a level last seen during early 2020.

Such an outcome would require catastrophic market weakness and sustained risk-off conditions.

Luckily, the technicals indicate an extended cool-off, rather than a complete sell-off.

Amid ADA’s Structural Weakness, Investors Want More of this Meme Coin Project

ADA is showing signs of weakness, and high-energy traders are already shifting focus to newer, more exciting opportunities beyond the stale meme coin space.

One project gaining serious momentum is Maxi Doge ($MAXI), a Dogecoin-inspired token that channels the same early hype and energy that once delivered 1000x gains. But this time, it’s more than just a meme.

Maxi Doge is building a vibrant trader community where holders share alpha, trading setups, and get access to opportunities before they go mainstream.

With $4.33 million already raised and just 2 days and 16 hours left before the next price hike, this could be the best entry point before things take off.

Staking the coin also gives you up to 71% per annum in yield, boosting your potential gains.

To buy $MAXI at $0.0002735 before the next price increase, go to the official Maxi Doge website and connect any supported wallet (such as Best Wallet).

You can swap existing crypto or use a bank card to complete the $MAXI purchase in seconds.

The post Cardano Price Prediction: SuperTrend Indicator Flips Bearish – 80% Crash If This Happens Next appeared first on Coinspeaker.