Cardano Tests $0.63 Support as Downtrend Threatens Further Losses

• Cardano is trading inside a descending channel, signaling a sustained downtrend.
• Ali Martinez notes that key support is $0.63, with a potential downside to $0.54.
• The current trend suggests bearish momentum unless ADA breaks the channel pattern.

Cardano is testing a key support level near $0.63, based on chart analysis shared by crypto analyst Ali Martinez. The price pattern shows ADA moving within a descending channel. The token may fall to the $0.5 range if it breaks below this support.

Cardano Price Pressured at Critical Support

Cardano is trading at $0.6399, marking a 3.2% decline over the past 24 hours. This came despite ADA posting a 17.7% gain over the past week. Meanwhile, the token has been trending downward since early 2025, forming a consistent series of lower highs and lower lows.

Analyst Martinez’s three-day chart shows a descending channel that has contained ADA’s price movement for months. The channel’s lower boundary now aligns closely with the $0.63 support zone.

Potential for Further Decline to $0.54

Technical analysis suggests a break below $0.63 could lead to a decline toward $0.54. This level corresponds with the 0.618 Fibonacci retracement level.

So far, ADA has failed to close above the 0.382 Fibonacci level at $0.7339, signaling weak bullish momentum. Recent attempts to rally have been rejected at the top of the descending channel.

Related: ‘Long Forgotten Now’: Gambardello Uses Past Lows for BTC, ADA Context

The descending channel signals strong bearish control. Unless ADA breaks above the upper boundary and reclaims the $0.73 level, the downtrend will likely continue.

Does Cardano Google Search Spike Signal a Rally?

In contrast to Martinez’s analysis, increased global interest in Cardano has emerged as a possible bullish indicator. Market watcher Angry Crypto Show highlighted that ADA’s Google Trends data now mirrors search levels last seen in early November 2024.

During that period, ADA surged nearly 300%, from $0.36 to $1.14 in just three weeks. While current prices are lower, some market participants are speculating on a similar rally.

It is worth mentioning that the search spike actually occurred in early March when ADA traded above $0.75. Since then, both search interest and price have trended downward.

Cardano Achieves Full Decentralization Milestone

Cardano’s recent spotlight also stems from a key development milestone. On April 12, founder Charles Hoskinson announced that Cardano has reached complete decentralization after over a decade of development.

Related: Analyst Singles Out Cardano for Major Boost Following New US Crypto Law

In the announcement, Hoskinson hinted he may reduce his active involvement as the project is now in safe hands with community members.