NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bullish Shift For TON: Price Breaks Above $2 Following Telegram CEO’s Gram News
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bullish Shift For TON: Price Breaks Above $2 Following Telegram CEO’s Gram News

Cardano Price Could Close May Below This Multi-Year Support — What’s Next?

Opeyemi Sule
Opeyemi Sule
Last Updated: May 31, 2026 7:00 pm
2 mins read
Cardano price

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

After hitting its cycle high last August, the Cardano price has continued in a downward slope toward lows not seen since 2024. Despite the calls of an altseason early into May, the ADA token has erased all the gains realized at the beginning of the month. Interestingly, the current Cardano price structure suggests the altcoin may be at risk of further downside in the coming months if it closes below a significant support level in May.

ADA Price Could Fall 78% If This Support Is Broken

In a May 30th post on the X platform, crypto analyst Ali Martinez revealed that the Cardano price has been hovering around a make-or-break level over the past couple of weeks. Looking at the highlighted monthly chart, the altcoin is at risk of closing the month of May below a major historical support level.

Related Reading

XRP

Can Ripple’s Fed Master Account Approval Trigger A New XRP Bull Run? AI Model Says $80 Is Possible

3 days ago

As shown in the chart below, the Cardano price has been trending within a multi-year channel formation since 2021. After reaching the upper boundary of the channel at $1.195 in early 2025, the cryptocurrency’s price has been in a steady decline, losing a significant support level around $0.544 last November.

Cardano price
Source: @alicharts on X

Now, as Martinez identified, the next definitive floor in sight for the Cardano price is around $0.247, which has acted as major support in the past. In fact, this support level kick-started the last rally that saw the price of ADA reach $1.195.

However, the Cardano price has drifted beneath this support level over the past few days, falling to as low as $0.232. With the end of May rapidly approaching, it would be interesting to see whether the ADA candlestick eventually closes below the $0.247 floor over the next day.

Martinez wrote in the X post:

As the monthly close approaches, maintaining a position below $0.247 alters the immediate market structure, suggesting a deeper valuation phase is underway.

According to the crypto analyst, if the Cardano price sustains its close beneath this historical support level, the next “high-conviction macro targets for long-term accumulation” lie around $0.113 and $0.051. Essentially, investors could see the price drop by nearly 78% (from the current price point) if ADA remains below $0.247.

However, it is worth noting that the altcoin could bounce back to around $0.544 if this major channel support holds and demand returns to the crypto market.

Cardano Price At A Glance

As of this writing, the price of ADA stands at around $0.237, reflecting an over 2% jump in the past 24 hours.

Related Reading

XRP

Could XRP Hit $10 This Bull Run? World’s Highest IQ Holder Thinks So

2 days ago
Cardano price
The price of ADA on the daily timeframe | Source: ADAUSDT chart on TradingView
Featured image from Solodev, chart from TradingView
Tweet123Share196ShareSend
Opeyemi Sule
Opeyemi Sule

Opeyemi Sule

Opeyemi is a proficient writer and enthusiast in the exciting and unique cryptocurrency realm. While the digital asset industry was not his first choice, he has remained absolutely drawn since making a foray into the space over two years. Now, Opeyemi takes pride in creating unique pieces unraveling the complexities of blockchain technology and sharing insights on the latest trends in the world of cryptocurrencies.

Read more

Opeyemi savors his attraction to the crypto market, which explains why he spends the better parts of his day looking through different price charts. “Looking” is a rather simple way to describe analyzing and interpreting various price patterns and chart formations. However, it appears that is not Opeyemi’s favorite part - in fact, far from it.

Being able to connect what happens on a price chart to on-chain movements and blockchain activities is what keeps Opeyemi ticking. “This emphasizes the intricacies of blockchain technology and the cryptocurrency market,” he would say. Most importantly, Opeyemi thinks of any market insights as the gospel, while recognizing that he is only a messenger.

When he is not clicking away at his keyboard, Opeyemi is most definitely listening to music, playing games, reading a book, or scrolling through X. He likes to think he is not loyal to a particular genre of music, which can be true on many days. However, the fast-rising Afrobeats genre is a staple in Opeyemi’s Spotify Daily Mix.

Meanwhile, Opeyemi is a voracious reader who enjoys a wide category of books - ranging from science fiction, fantasy, and historical, to even romance. He believes that authors like George R. R. Martin and J. K.
Rowling are the greatest of all time when it comes to putting pen to paper. Opeyemi believes his reading of the Harry Potter series twice is proof of that.

Indeed, Opeyemi enjoys spending most of his time within the four walls of his home. However, he also sometimes finds solace in the company of his friends at a bar, a restaurant, or even on a stroll. In essence, Opeyemi’s ambivert (haha! been searching for an opportunity to use the word to describe myself) nature makes him a social chameleon who is able to quickly adapt to different settings.

Opeyemi recognizes the need to constantly develop oneself in order to stay afloat in a competitive and ever-evolving market like crypto. For this reason, he is always in learning mode, ready to pick up the slightest lesson from every situation. Opeyemi is efficient and likes to deliver all that is required of him in time - he believes that “whatever is worth doing at all is worth doing well.” Hence, you will always find him striving to be better.

Ultimately, Opeyemi is a good writer and an even better person who is trying to shed light on an exciting world phenomenon - cryptocurrency. He goes to bed every day with a smile of satisfaction on his face, knowing that he has done his bit of the holy assignment - spreading the crypto gospel to the rest of the world.

Close

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

maxi doge

Après l’envolée de MemeCore, les investisseurs se tournent vers la prévente de Maxi Doge

Mardi 2 juin 2026 – Le marché des actifs spéculatifs traverse une phase de forte activité, illustrée par la performance...

guillaumev 5 hours ago
Hyperliquid

Arthur Hayes Bets $100K On Hyperliquid, Says HYPE Will Beat Solana By Year‑End

As Hyperliquid (HYPE) reaches new all-time highs (ATHs), Arthur Hayes has bet six figures that the token will continue to...

Rubmar Garcia 7 hours ago
WLD

WLD Coin Rallies 15% As Live Music Partnership Fuels Adoption Hopes

WLD has been trading near a critical resistance point. The $0.40 level is where traders are watching closely — a...

Christian Encila 16 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Bitcoin

Bitcoin Moves Into Accumulation Zone That Will Send It On Next All-Time High Run To $250,000

Scott Matherson 55 minutes ago
robinhood_crypto_bitcoin_btc_btcusd_50

Robinhood Just Acquired Canada’s Biggest Crypto Platform — And Brought 300,000 New Customers With It

James Halver 4 hours ago
Bitcoin

The Bitcoin Retracement Rally And The Resistance Level That Could End It All

Scott Matherson 4 hours ago

Premium Sponsors

Press Releases

  • CreditBlockchain

    CreditBlockchain cloud mining helps users earn up to 0.078...

    4 months ago
  • モネロが686ドルで史上最高値を更新、時価総額トップ11入り──1月に注目のアルトコインは?

    ...

    5 months ago
  • ChatGPTが分析:2026年の仮想通貨 1000倍候補はどれか

    ChatGPTが分析:2026年の仮想通貨...

    5 months ago
  • 新しい仮想通貨:2026年に注目すべき3銘柄、次に急騰するコインはどれか

    ...

    5 months ago
  • ドージコイン 今後:ミームコイン市場に投機売買が再び戻る

    ドージコイン...

    5 months ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.