Cardano (ADA) has been struggling to hold some crucial levels over the month, falling to multi-month lows over the weekend. As the cryptocurrency attempts to hold a key support area, some analysts believe this make-or-break retest will determine its next big move.<\/p>\n
Cardano is recording a 4.5% daily increase after bouncing from the $0.51 area on Sunday. Notably, ADA was in a downtrend<\/a> following its 3-year high of $1.32 in December 2024, which ended after the late April breakout and May bullish rally.<\/p>\n However, the cryptocurrency has struggled to hold its April-May range amid the June market pullback, losing the key $0.66 area ten days ago. Since then, Cardano has recorded seven consecutive red daily candles and fallen below the $0.60 support.<\/p>\n Sjuul from AltCryptoGems suggested that Cardano\u2019s rally will be halted unless some ground is recovered. According to the analyst, the cryptocurrency\u2019s multi-month price action \u201cended up being a classic distribution schematic\u201d after losing the $0.66 support.<\/p>\n \u00a0This would signal that ADA\u2019s uptrend<\/a> has ended and a potential downtrend is ahead. \u201cAs long as we don\u2019t reclaim $0.66, just expect further downtrend from now on,\u201d he asserted.<\/p>\n Meanwhile, market watcher Man of Bitcoin highlighted<\/a> the cryptocurrency\u2019s June downtrend, affirming that if the price remains below the descending trendline, downward pressure will persist.<\/p>\n He added that \u201cOne more low in wave iv is still possible,\u201d hinting that a drop below the $0.50 could be on the horizon before the next wave up. Nonetheless, the analyst noted that \u201cit should be a brief wick to the downside\u201d as a \u201csustained break lower would weaken the bullish outlook.\u201d<\/p>\n Amid the ongoing global war tensions, ADA\u2019s price retested the crucial $0.52 support on Sunday, hitting a four-month low of $0.51, before recovering and closing the week around the $0.54 mark.<\/p>\n Market watcher Rose Premium Signals noted<\/a> that a weekly close around the crucial $0.56 level would continue the possible double-bottom setup forming on ADA\u2019s chart.<\/p>\n The analyst added that a confirmed rebound from the $0.54-$0-56 area could send the price to the initial $0.99 target and set the stage for a climb toward the $1.20 and $1.50 resistances<\/a>.<\/p>\nADA Retest To Trigger Rally To $1?<\/h2>\n