Cardano forecast questions potential 30% plummet in ADA value

Cardano (ADA) is finding it difficult to overcome the 0.382 Fibonacci resistance, an indicator used in technical analysis to predict potential support and resistance levels for a cryptocurrency price.

This is resulting in a bearish rejection, which occurs when the price pauses or turns around at a level of resistance.

This suggests a possible correction, where the price temporarily reverses direction before going back to its overall trend.

After an uptrend, a correction usually results in the price falling.