Cardano’s price action continues to disappoint, even as much of the crypto market already went through major expansion phases this cycle. While Bitcoin, Ethereum, Solana, and XRP managed to reclaim or break key highs, ADA never came close to its all-time high. Instead, it keeps bleeding lower.
The latest daily chart shared by Ali Martinez adds to that bearish picture.
What you'll learn 👉
ADA Breaks Down From a Clear Price Channel
Ali Martinez highlighted a clean channel breakdown on the daily timeframe. For months, the ADA price traded inside a defined horizontal range, bouncing between resistance near $0.90 and support around $0.50. That structure is now gone.
Price broke decisively below the lower boundary of the channel and failed to reclaim it. Since then, every bounce has been weak and quickly sold into. That behavior signals acceptance below prior support, not a temporary deviation.
ADA is now trading near $0.38, a level that already looks fragile. Momentum remains firmly bearish, and there is no sign of aggressive dip buying.
With the channel lost, the chart opens up toward the next high-conviction support zone. That sits around $0.29, a level marked clearly on the chart and tied to prior accumulation during earlier phases of the market.
From a technical perspective, this is not an extreme or panic-driven target. It is simply the next area where buyers previously showed interest. If price continues following its current structure, a move toward that zone looks realistic rather than dramatic.
There is also very little technical support between current levels and $0.29. That lack of structure increases downside risk if selling pressure persists.
Read also: SUI Is Crushing Cardano in Important Metrics and the Gap Is Getting Bigger
Horrible Relative Performance This Cycle
What makes ADA’s chart even worse is the context. This has been a bull market for large-cap crypto.
Bitcoin set new highs. Ethereum broke through key resistance and reclaimed momentum. Solana reached fresh cycle highs. Even XRP managed a strong expansion move after years of stagnation.
Cardano did none of that.
ADA failed to break its previous cycle high. It failed to sustain rallies. It failed to attract meaningful momentum even when liquidity conditions were favorable. Each recovery attempt topped out lower than the last, forming a clear downtrend on higher timeframes.
At this point, the underperformance is no longer a timing issue. It is structural.
No Signs of Capitulation or Strength
Another concern is the nature of the sell-off. ADA is not crashing in a way that clears the market. Instead, it is grinding lower, slowly exhausting interest.
That type of price action often keeps pressure on the downside longer than expected. There is no capitulation wick, no volume spike, and no clear signal that sellers are done.
Until ADA shows a strong reclaim of broken structure, the path of least resistance remains lower.
Bearish Bias Remains Intact
Ali Martinez’s chart reflects what price action has been saying for months. Cardano is weak, momentum is negative, and buyers are not stepping up.
As long as ADA trades below the former channel and fails to reclaim key resistance levels, downside targets stay in play. The $0.29 zone now stands out as the next area the market may test.
Compared to peers that already proved strength this cycle, Cardano continues to lag badly. From a pure chart perspective, there is little reason to expect that to change anytime soon.
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