\n<\/p>\n
\n\t\t\t\t\t\t\t\t\tDespite the retreat, ADA still ranks among the 20 largest cryptocurrencies.\t\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n
Cardano\u2019s native token has been on a tear over the past several days, but its rally stalled today (August 26) as the broader market pulled back a bit.<\/p>\n
While most analysts remain bullish on the asset, some believe a double-digit decline from the current levels could also be on the horizon.<\/p>\n
ADA has soared by 22% over the past two weeks, following the market\u2019s revival prompted by the monetary changes announced<\/a> by the US Treasury Department, among other factors.<\/p>\n At one point, the asset rocketed to a three-month high above $0.25, but the past 24 hours have delivered a correction. As of press time, ADA trades at around $0.21, representing a 6% decline on a daily scale and is among the biggest losers within that timeframe.<\/p>\n X user SBlockSpy noted<\/a> that the token got rejected around $0.22 and is closely monitoring the pullback. They claimed that the move shows sellers are active and predicted a deeper downtrend to as low as $0.164 if the dump continues. At the same time, the analyst believes that if buyers step up here, they might trigger an initial surge to $0.24, then $0.30.<\/p>\n Rand Group also recently chipped in. Earlier this week, the X user highlighted<\/a> ADA\u2019s strong breakout, claiming it has breached the main downtrend resistance. However, they remain uninterested in the asset until it consolidates above the $0.25 resistance.<\/p>\n For their part, More Crypto Online cast doubt on whether a certain \u201cB-wave\u201d pullback has begun, adding<\/a> that as long as ADA holds above $0.157, the upside momentum remains and could push the price to the $0.314-$0.404 range.<\/p>\n It is important to note that other popular X users stand firmly on the bullish side. Earlier this month, Lucky told<\/a> their nearly two million followers that ADA is among their \u201chot picks,\u201d envisioning a short-term ascent to almost $0.50. The last time the token traded that high was in November last year.<\/p>\n CW is another optimist. The analyst opined<\/a> that ADA has broken through a major resistance line and transitioned into a bullish trend.<\/p>\n \u201cThe long downtrend is over. The real bull market has begun,\u201d they added.<\/p>\n<\/blockquote>\nYou may also like:<\/h3>\n
Entirely Optimistic Forecasts<\/h2>\n
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