Cardano has slipped to near a key technical support level, raising the possibility it could fall again into the $0.14 range.

The Crypto Basic, a blockchain outlet, reported on Oct. 24 that Elliott Wave analyst V warned ADA may not yet have reached its final bottom and could extend losses if it drops out of the lower boundary of its ascending channel.

V singled out Cardano as a cryptocurrency that is highly likely to make a new low. V said the lower support line of an ascending channel that has continued since the June 2026 low of $0.1384 could be a turning point for this move. The channel consists of two upward-sloping trend lines, and the lower line has acted as support during each down phase.

The concern is that ADA rose to around $0.28 in early October and then fell back toward the channel’s lower boundary. A chart released by V laid out a scenario in which a downside break could send the price down into the $0.14 range. V marked that level as a “confirmation” zone and said a deeper correction could support a bearish scenario.

There is not only a downside scenario. V said V would be interested in buying again if ADA forms another low. V described the current level as a risk zone just ahead of a trend breakdown while leaving open the possibility of a rebound after a new low is formed.

The market backdrop also aligns with the bearish view. Cardano plunged to about $0.1384 in late June and then rebounded, coming close to $0.28 earlier this month, before retreating again alongside broader weakness in the cryptocurrency market. At the time, reports including that Charles Hoskinson would temporarily step back from the project increased tension within the ecosystem and stoked market uncertainty.

Another analyst issued a similar warning. Market analyst Ali Martinez said ADA rose from $0.138 to $0.282 inside an ascending parallel channel from late June, but after slipping below $0.22, it appeared to have broken below the channel’s lower boundary. Martinez said the move could be a signal that a correction is starting.

Martinez pointed to $0.220 as a key resistance level. As long as ADA stays below that price, Martinez projected it could fall about 20 percent further to $0.166. That is less severe than V’s $0.14 scenario, but it sends the same signal that a short-term bounce alone does not remove downside risk.

Cardano’s near-term focal points are now narrowed to two issues. One is whether it can hold support at the lower boundary of the ascending channel. The other is whether it can regain $0.22 and break through resistance. For now, it remains unclear whether ADA will slide sharply below $0.20, but major analysts commonly see whether it breaks key technical support as the critical variable for the next price move.

"$ADA is a prime candidate for a coin that most likely hasn't put in it's final low yet. It falling out of the channel might seal the deal. I'll be interested in buying again if it makes that low. Will you be as well? #Cardano https://t.co/gCbZsKC6QD"