Cardano Price Falls Below $0.24 as Traders Watch $0.21 Support

| crypto.news
Cardano (ADA) weakened between Oct. 8 and Oct. 9, falling from around $0.232 to $0.236 after being rejected near the top of an ascending channel. The latest price was about 16.5% below the weekly high of $0.2824, putting short-term support levels in focus. Analyst Ali Martinez said that if the channel remains intact, ADA could fall toward its lower boundary near $0.21. Traders may first watch support around the recent weekly low of $0.2238 and the daily lower Bollinger Band near $0.2276. A sustained break below the channel could expose the September area around $0.20. Analyst Jesse Olson also pointed to bearish momentum and the possibility of a lower-zone retest. Short-term indicators remain soft: daily RSI was below the neutral 50 level, and ADA traded below the Bollinger midpoint near $0.2483. Earlier readings also showed negative MACD momentum and a price below the four-hour Supertrend near $0.254. A recovery above $0.24, followed by $0.2483, could ease immediate pressure; weekly Supertrend resistance is near $0.2762. However, the weekly Awesome Oscillator remained positive, highlighting mixed signals across timeframes. The $0.21 target is a conditional technical scenario, not a certainty.
Bearish
The combined technical picture is bearish for ADA in the near term. The price was rejected near the ascending channel’s upper boundary and remains below key short-term references, including $0.24 and the Bollinger midpoint near $0.2483. Daily RSI below 50, negative MACD readings in the earlier update, and a price below the four-hour Supertrend indicate weakening momentum. If support near $0.2238–$0.2276 fails, traders may look toward the channel boundary around $0.21, with the September region near $0.20 as a further downside reference. Such levels can encourage defensive positioning or selling if confirmed by a breakdown. The outlook is not uniformly negative: the weekly Awesome Oscillator remains positive, and a sustained recovery above $0.24 and $0.2483 could ease immediate selling pressure. Over the longer term, the direction will depend on whether ADA holds the channel and regains resistance levels; a move toward $0.21 is a conditional scenario, not a forecast certainty. Overall, however, weaker daily momentum and the risk of support failure make the immediate price impact bearish.