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: Can Ripple’s Fed 
Master Account Approval Trigger A New XRP Bull Run? AI Model Says $80 Is 
Possible 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&#8217;s price 
has been in a steady decline, losing a significant support level around $0.544 
last November. 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 &#8220;high-conviction macro targets for long-term accumulation&#8221; 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: Could XRP 
Hit $10 This Bull Run? World’s Highest IQ Holder Thinks So Featured image from 
Solodev, chart from TradingView

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 &#8230;

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

Western governments spent three years building what they believed was an 
airtight financial blockade around Russia, severing its banks from SWIFT, 
freezing sovereign reserves, and barring major institutions from clearing 
dollar transactions. And according to British authorities, Russia may have 
spent much of that same period engineering an alternative financial system 
designed to circumvent it […]
The post UK treats crypto network like a sanctioned bank after claims it 
processed $90B for Russia appeared first on CryptoSlate.

Western governments spent three years building what they believed was an airtight financial blockade around Russia, severing its banks from SWIFT, freezing sovereign reserves, and barring major institutions from clearing dollar transactions. And according to British authorities, Russia may have spent much of that same period engineering an alternative financial system designed to circumvent it &#8230;

UK treats crypto network like a sanctioned bank after claims it processed $90B for Russia

Ten signals stand out for traders heading into June 2026, spanning a Fed 
decision markets have already priced at 98.2% hold, bitcoin sitting 40% off 
its cycle highs, and U.S. stocks notching fresh records on the back of a 
narrow artificial intelligence (AI)-driven rally. Markets Enter June at 
Extremes The S&amp;P 500 closed May 29 […]

Ten signals stand out for traders heading into June 2026, spanning a Fed decision markets have already priced at 98.2% hold, bitcoin sitting 40% off its cycle highs, and U.S. stocks notching fresh records on the back of a narrow artificial intelligence (AI)-driven rally. Markets Enter June at Extremes The S&amp;P 500 closed May 29 &#8230;

Top 10 Signals Traders Watch as Bitcoin, Stocks and the Fed Set the Tone for June

The proposed tax could drive crypto trading to decentralized platforms, 
complicating enforcement and potentially impacting EU market liquidity.
The post European Union proposes 0.1% tax on crypto trading to raise €3-4B 
annually appeared first on Crypto Briefing.

The proposed tax could drive crypto trading to decentralized platforms, complicating enforcement and potentially impacting EU market liquidity. The post European Union proposes 0.1% tax on crypto trading to raise €3-4B annually appeared first on Crypto Briefing.

European Union proposes 0.1% tax on crypto trading to raise €3-4B annually

Pezeshkian&#8217;s resignation could lead to increased IRGC control, escalating 
sanctions, and heightened financial scrutiny on crypto activities.
The post Iranian President Pezeshkian reportedly resigns, cites IRGC dominance 
over government appeared first on Crypto Briefing.

Pezeshkian&#8217;s resignation could lead to increased IRGC control, escalating sanctions, and heightened financial scrutiny on crypto activities. The post Iranian President Pezeshkian reportedly resigns, cites IRGC dominance over government appeared first on Crypto Briefing.

Iranian President Pezeshkian reportedly resigns, cites IRGC dominance over government

In the wake of CFTC approval of perpetual futures contracts tied to the spot 
price of Bitcoin, Kraken expects to offer those to US institutional clients 
within &#8220;the next month.&#8221;

In the wake of CFTC approval of perpetual futures contracts tied to the spot price of Bitcoin, Kraken expects to offer those to US institutional clients within &#8220;the next month.&#8221;

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

Comments