It is not every day that Ansem, a trader who has earned a solid reputation over the past year as one of the sharpest minds in the crypto space - especially known for his focus on Solana - turns his attention to Cardano (ADA). But here we are, with the expert trader releasing a detailed ADA price outlook that is turning heads, primarily because it does not exactly scream optimism.
The chart he shared paints a picture of ADA trapped in a downtrend, with lower highs and lower lows stacking up over the past few months.
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The $0.7786 level, identified as a key resistance zone, has been a brick wall for ADA, with the price repeatedly bouncing off it. This indicates that sellers are in control every time the price attempts to push higher.
— Ansem 🧸💸 (@blknoiz06) March 22, 2025
What is interesting, though, is what is missing from the chart - no flashy indicators like moving averages or RSI, just raw price action telling a story of consolidation and indecision.
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Right now, ADA is trading within a range, and Ansem believes it is at a crucial crossroads. Either it continues below the current support and heads toward $0.4, or it somehow finds the strength to break above the stubborn $0.80 resistance and flip the script, if the price manages not to take a roundtrip.
But here’s the catch - Ansem is not holding his breath for a miracle breakout as his general outlook on the crypto market has been bearish for some time, and this Cardano analysis fits right into that narrative.
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Without some major fundamental shift to shake things up, he seems to think the path of least resistance is down, and a 50% drop from current levels is not off the table.
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