Cardano price slides below $0.16 as bearish technical signals intensify

The ADA token of the Cardano blockchain fell back under $0.16, retracing from a recent high near $0.20. Technical indicators show a bearish shift: the Relative Strength Index slipped to around 42 in the neutral zone and both the RSI and MACD recorded bearish crossovers, indicating negative momentum. Elliott‑wave analysis suggests the current wave may be concluding, with the next downward target potentially near the 10‑cent level.

Analysts note that holding the $0.168‑$0.172 support band could keep the token above key resistance and allow a bounce toward $0.19‑$0.20 and higher upside scenarios, but a breach would likely trigger further declines. The founder, Charles Hoskinson, remains optimistic about long‑term development, yet short‑term price action remains dominated by the downtrend.