- Analyst warns ADA could fall 20% toward $0.166 if $0.220 resistance holds following a breakdown below its rising price channel.
- Cardano’s RSI sits at 34.77 and MACD remains negative, signaling continued selling pressure as ADA trades near $0.2056.
- Germany’s DZ BANK includes Cardano alongside Bitcoin, Ethereum and Litecoin on meinKrypto, subject to participating banks’ adoption decisions.
Cardano faces a potential 20% decline toward $0.166 after analyst Ali Charts reported a breakdown below its rising price channel. ADA also continues to trade near $0.20, with bearish momentum appearing across its four-hour chart. Meanwhile, Germany’s DZ BANK has included Cardano among four cryptocurrencies available through its meinKrypto platform.
Ali Charts Identifies $0.220 as Resistance
Ali Charts said ADA traded inside a rising parallel channel from late June, climbing from $0.138 to $0.282. However, the token has now fallen below the channel’s lower boundary, raising the possibility of a deeper correction.
The analyst identified $0.220 as the level that could limit recovery attempts. If that price continues to act as resistance, ADA could decline approximately 20% toward $0.166.
Recent price action supports the reported weakness. ADA previously traded around 0.24–0.26 before reaching approximately $0.28 around October 6. It then fell below $0.25, $0.24 and $0.23, forming lower highs and lower lows.
A recovery toward $0.23 around October 21 failed, and renewed selling pushed the price toward $0.20. The latest four-hour candle closed at $0.2056, down 1.15%, with volume reaching 4.44 million ADA.
RSI and MACD Show Continued Selling Pressure
ADA’s Relative Strength Index is at 34.77, below its moving average of 37.40. The reading places momentum near the oversold threshold of 30, although it has not crossed that level.
The MACD line is at -0.0038, below its -0.0033 signal line. Its histogram reads -0.0005, indicating continued downside momentum. Immediate support lies between $0.2040 and $0.2000, while resistance stands around 0.22–0.23. A recovery above $0.21 could provide initial relief.
DZ BANK Adds Cardano to Its Crypto Offering
Separately, DZ BANK’s meinKrypto platform selected ADA alongside Bitcoin, Ethereum and Litecoin for its initial offering. The MiCA-authorized service integrates cryptocurrency trading and custody into the VR Banking App.
Participating cooperative banks can offer the service through existing banking infrastructure. However, each bank must decide whether to adopt it and complete the required regulatory notification.
